Iridium Communications (IRDM) Receiving Somewhat Favorable Press Coverage, Report Finds
Press coverage about Iridium Communications (NASDAQ:IRDM) has trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm identifies negative and positive news coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Iridium Communications earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave media stories about the technology company an impact score of 45.7908491118367 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- Iridium Communications (IRDM) Cut to Hold at BidaskClub (americanbankingnews.com)
- Iridium Communications, Inc. breached its 50 day moving average in a Bearish Manner : IRDM-US : December 15, 2017 (finance.yahoo.com)
- Gratifying Stocks: Netflix, Inc., (NASDAQ: NFLX),Iridium Communications Inc., (NASDAQ: IRDM), Nucor Corporation … – Hot Stocks In Focus (press release) (reagentsglobalmarket.com)
- Notable News Recap: Iridium Communications Inc., (NASDAQ: IRDM), Adient plc, (NYSE: ADNT), Ramco-Gershenson … – Stocks In The News (press release) (tradingnewsnow.com)
Several equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Saturday. TheStreet raised shares of Iridium Communications from a “c+” rating to a “b” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded shares of Iridium Communications from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Wells Fargo & Company raised their target price on shares of Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. Finally, ValuEngine raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.33.
Iridium Communications (NASDAQ:IRDM) opened at $11.23 on Friday. The firm has a market cap of $1,099.72, a price-to-earnings ratio of 12.20, a P/E/G ratio of 2.70 and a beta of 1.75. Iridium Communications has a 12-month low of $7.80 and a 12-month high of $12.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67.
Iridium Communications (NASDAQ:IRDM) last released its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $116.55 million during the quarter, compared to the consensus estimate of $113.96 million. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. equities analysts forecast that Iridium Communications will post 0.83 EPS for the current year.
In other Iridium Communications news, Director A B. Krongard bought 45,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $10.89 per share, with a total value of $498,217.50. Following the completion of the transaction, the director now owns 149,788 shares in the company, valued at $1,631,191.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is currently owned by company insiders.
Iridium Communications Company Profile
Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.
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