Wall Street brokerages expect Iridium Communications Inc (NASDAQ:IRDM) to announce ($0.16) earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Iridium Communications’ earnings, with estimates ranging from ($0.33) to $0.02. Iridium Communications posted earnings of $0.08 per share during the same quarter last year, which would suggest a negative year over year growth rate of 300%. The firm is expected to report its next earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Iridium Communications will report full-year earnings of ($0.28) per share for the current year, with EPS estimates ranging from ($0.45) to ($0.10). For the next fiscal year, analysts forecast that the company will report earnings of ($0.55) per share, with EPS estimates ranging from ($1.16) to ($0.03). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, October 25th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $136.76 million for the quarter, compared to the consensus estimate of $128.32 million. Iridium Communications had a return on equity of 1.01% and a net margin of 26.88%.

Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 27th. Northland Securities cut shares of Iridium Communications from a “market perform” rating to an “under perform” rating in a research note on Monday, September 10th. Raymond James raised their price target on shares of Iridium Communications from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Sidoti reaffirmed a “neutral” rating on shares of Iridium Communications in a research note on Monday, August 27th. Finally, Zacks Investment Research cut shares of Iridium Communications from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $21.35.

In related news, CEO Matthew J. Desch sold 274,075 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $21.53, for a total value of $5,900,834.75. Following the completion of the transaction, the chief executive officer now directly owns 1,200,754 shares of the company’s stock, valued at $25,852,233.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO S. Scott Smith sold 3,500 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $24.08, for a total transaction of $84,280.00. Following the completion of the transaction, the chief operating officer now directly owns 216,467 shares of the company’s stock, valued at $5,212,525.36. The disclosure for this sale can be found here. Insiders sold 319,575 shares of company stock valued at $6,848,915 over the last three months. 5.60% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in IRDM. Principal Financial Group Inc. grew its stake in shares of Iridium Communications by 3.2% in the first quarter. Principal Financial Group Inc. now owns 706,703 shares of the technology company’s stock valued at $7,950,000 after buying an additional 21,616 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Iridium Communications by 52.5% in the second quarter. Bank of Montreal Can now owns 198,751 shares of the technology company’s stock valued at $3,201,000 after buying an additional 68,411 shares in the last quarter. Aperio Group LLC grew its stake in shares of Iridium Communications by 9.4% in the second quarter. Aperio Group LLC now owns 60,240 shares of the technology company’s stock valued at $970,000 after buying an additional 5,183 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Iridium Communications by 90.0% in the second quarter. Rockefeller Capital Management L.P. now owns 24,228 shares of the technology company’s stock valued at $390,000 after buying an additional 11,478 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Iridium Communications by 4.4% in the second quarter. Wells Fargo & Company MN now owns 875,085 shares of the technology company’s stock valued at $14,090,000 after buying an additional 36,740 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

Shares of IRDM traded down $0.75 during mid-day trading on Thursday, hitting $21.87. 1,189,886 shares of the company’s stock were exchanged, compared to its average volume of 1,018,559. The stock has a market capitalization of $2.52 billion, a P/E ratio of 31.24 and a beta of 2.05. Iridium Communications has a 52 week low of $10.75 and a 52 week high of $24.35. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 1.16.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.

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Earnings History and Estimates for Iridium Communications (NASDAQ:IRDM)

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