Iridium Communications (IRDM) Set to Announce Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 17th. Analysts expect Iridium Communications to post earnings of $0.20 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The firm had revenue of $201.07 million for the quarter, compared to analyst estimates of $204.01 million. Iridium Communications had a net margin of 11.08% and a return on equity of 10.23%. Iridium Communications’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.24) earnings per share. On average, analysts expect Iridium Communications to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Iridium Communications Stock Performance

IRDM opened at $30.07 on Wednesday. The firm has a market capitalization of $3.65 billion, a PE ratio of 143.19 and a beta of 0.65. Iridium Communications has a twelve month low of $24.14 and a twelve month high of $44.63. The firm’s 50-day moving average price is $28.01 and its 200 day moving average price is $27.87. The company has a current ratio of 2.25, a quick ratio of 1.52 and a debt-to-equity ratio of 2.08.

Iridium Communications declared that its board has authorized a share repurchase program on Thursday, September 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 14.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Iridium Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. Iridium Communications’s payout ratio is presently 266.67%.

Wall Street Analyst Weigh In

IRDM has been the subject of several analyst reports. BWS Financial reissued a “neutral” rating and issued a $30.00 price target on shares of Iridium Communications in a research note on Wednesday, July 24th. Barclays raised their target price on Iridium Communications from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.