Cantor Fitzgerald Has Positive View of IRDM FY2025 Earnings

Iridium Communications Inc (NASDAQ:IRDM) – Analysts at Cantor Fitzgerald raised their FY2025 earnings estimates for Iridium Communications in a note issued to investors on Thursday, July 17th. Cantor Fitzgerald analyst C. Canfield now forecasts that the technology company will earn $0.88 per share for the year, up from their prior forecast of $0.79. The consensus estimate for Iridium Communications’ current full-year earnings is $0.89 per share. Cantor Fitzgerald also issued estimates for Iridium Communications’ FY2026 earnings at $0.89 EPS.

Several other equities analysts have also commented on IRDM. William Blair raised shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Oppenheimer initiated coverage on shares of Iridium Communications in a report on Monday, May 5th. They issued an “outperform” rating and a $34.00 price target on the stock. Finally, BWS Financial cut their price target on shares of Iridium Communications from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Iridium Communications presently has an average rating of “Moderate Buy” and an average price target of $34.25.

Iridium Communications Stock Down 0.1%

Shares of IRDM stock traded down $0.04 during mid-day trading on Friday, hitting $32.07. 150,667 shares of the stock traded hands, compared to its average volume of 1,179,453. The stock has a market cap of $3.47 billion, a P/E ratio of 30.26, a P/E/G ratio of 1.06 and a beta of 0.79. The stock’s fifty day moving average is $28.38 and its two-hundred day moving average is $27.95. Iridium Communications has a 52-week low of $19.91 and a 52-week high of $35.85. The company has a debt-to-equity ratio of 3.43, a current ratio of 1.99 and a quick ratio of 1.36.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. During the same period in the prior year, the firm posted $0.17 earnings per share.

Institutional Investors Weigh In On Iridium Communications

A number of institutional investors have recently added to or reduced their stakes in IRDM. Proficio Capital Partners LLC acquired a new stake in Iridium Communications in the 4th quarter valued at $408,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Iridium Communications by 12.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,064 shares of the technology company’s stock valued at $901,000 after purchasing an additional 3,350 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Iridium Communications by 4.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the technology company’s stock valued at $553,000 after purchasing an additional 729 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Iridium Communications by 498.5% in the 4th quarter. Intech Investment Management LLC now owns 66,142 shares of the technology company’s stock valued at $1,919,000 after purchasing an additional 55,091 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Iridium Communications by 369.5% in the 4th quarter. Teacher Retirement System of Texas now owns 69,562 shares of the technology company’s stock valued at $2,019,000 after purchasing an additional 54,747 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a yield of 1.75%. Iridium Communications’s dividend payout ratio is currently 52.83%.

About Iridium Communications

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.