Iridium Communications Inc. Forecasted to Earn FY2024 Earnings of $0.61 Per Share (NASDAQ:IRDM)

Iridium Communications Inc. (NASDAQ:IRDM) – Equities researchers at Zacks Research increased their FY2024 earnings estimates for Iridium Communications in a research report issued on Wednesday, May 8th. Zacks Research analyst R. Department now expects that the technology company will earn $0.61 per share for the year, up from their previous estimate of $0.60. The consensus estimate for Iridium Communications’ current full-year earnings is $0.73 per share. Zacks Research also issued estimates for Iridium Communications’ Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $0.18 EPS, FY2025 earnings at $0.68 EPS, Q1 2026 earnings at $0.19 EPS and FY2026 earnings at $0.84 EPS.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The firm had revenue of $203.80 million during the quarter, compared to analyst estimates of $193.84 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Iridium Communications’s revenue for the quarter was down .7% compared to the same quarter last year.

IRDM has been the subject of several other research reports. William Blair lowered shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 15th. BWS Financial restated a “neutral” rating and issued a $30.00 target price on shares of Iridium Communications in a research note on Monday, April 22nd. TheStreet upgraded shares of Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. Barclays increased their price objective on shares of Iridium Communications from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Raymond James reduced their price objective on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.75.

Iridium Communications Price Performance

Iridium Communications stock opened at $30.06 on Friday. Iridium Communications has a 52-week low of $24.14 and a 52-week high of $65.12. The firm has a fifty day moving average of $27.59 and a 200-day moving average of $33.69. The firm has a market capitalization of $3.65 billion, a P/E ratio of 143.14 and a beta of 0.78. The company has a quick ratio of 2.52, a current ratio of 3.33 and a debt-to-equity ratio of 1.86.

Institutional Trading of Iridium Communications

Institutional investors and hedge funds have recently modified their holdings of the business. Cullen Investment Group LTD. acquired a new stake in shares of Iridium Communications during the fourth quarter worth $1,548,000. Hsbc Holdings PLC increased its holdings in shares of Iridium Communications by 11.9% in the 3rd quarter. Hsbc Holdings PLC now owns 54,578 shares of the technology company’s stock worth $2,498,000 after acquiring an additional 5,823 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Iridium Communications by 92.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 43,137 shares of the technology company’s stock worth $1,962,000 after acquiring an additional 20,752 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Iridium Communications by 2,918.9% in the 4th quarter. Pacer Advisors Inc. now owns 603,900 shares of the technology company’s stock worth $24,857,000 after acquiring an additional 583,896 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of Iridium Communications by 1,167.9% in the 3rd quarter. GSA Capital Partners LLP now owns 51,310 shares of the technology company’s stock worth $2,334,000 after acquiring an additional 47,263 shares during the period. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.