Iridium Communications (NASDAQ:IRDM) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Iridium Communications (NASDAQ:IRDM) announced its quarterly earnings data on Tuesday. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05, RTT News reports. The firm had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same period in the prior year, the business earned $0.17 EPS.

Iridium Communications Stock Performance

Shares of NASDAQ:IRDM traded down $1.59 during midday trading on Tuesday, hitting $21.61. The company’s stock had a trading volume of 6,420,608 shares, compared to its average volume of 1,137,827. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock’s 50 day simple moving average is $27.96 and its 200 day simple moving average is $28.87. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.28 and a beta of 0.66. Iridium Communications has a fifty-two week low of $19.93 and a fifty-two week high of $35.85.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, March 17th. Iridium Communications’s dividend payout ratio is 58.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. William Blair upgraded shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald assumed coverage on Iridium Communications in a research note on Friday, January 24th. They issued an “overweight” rating and a $40.00 target price on the stock. StockNews.com upgraded Iridium Communications from a “hold” rating to a “buy” rating in a report on Sunday, April 6th. Finally, Barclays lowered their price target on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.00.

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.