Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Iridium Communications (IRDM) Share Price
Media coverage about Iridium Communications (NASDAQ:IRDM) has been trending somewhat positive on Saturday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Iridium Communications earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 47.223719208283 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
A number of research analysts have recently commented on IRDM shares. Zacks Investment Research upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Monday, July 31st. TheStreet lowered shares of Iridium Communications from a “b” rating to a “c+” rating in a research report on Thursday, August 17th. Drexel Hamilton restated a “buy” rating and set a $14.00 price target on shares of Iridium Communications in a research report on Thursday, August 31st. ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Wells Fargo & Company boosted their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.33.
Shares of Iridium Communications (NASDAQ:IRDM) traded up $0.05 during trading hours on Friday, reaching $10.95. 477,800 shares of the company traded hands, compared to its average volume of 924,959. Iridium Communications has a one year low of $7.80 and a one year high of $12.90. The stock has a market capitalization of $1,080.00, a price-to-earnings ratio of 11.85, a PEG ratio of 2.62 and a beta of 1.78. 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 announced its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The company had revenue of $116.55 million during the quarter, compared to analyst estimates of $113.96 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. equities analysts predict that Iridium Communications will post 0.83 earnings per share for the current fiscal year.
In other Iridium Communications news, COO S. Scott Smith sold 135,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $10.51, for a total transaction of $1,418,850.00. Following the completion of the sale, the chief operating officer now directly owns 309,000 shares in the company, valued at $3,247,590. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.40% of the stock is currently owned by insiders.
About Iridium Communications
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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