Shares of Iridium Communications Inc (NASDAQ:IRDM) have been assigned an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $30.00.

IRDM has been the topic of a number of research analyst reports. Sidoti raised shares of Iridium Communications to a “buy” rating in a research report on Tuesday, March 17th. Raymond James lowered their price objective on shares of Iridium Communications from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. BidaskClub downgraded shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Barclays lowered their price objective on shares of Iridium Communications from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, ValuEngine raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, March 3rd.

Shares of IRDM stock traded up $1.16 during trading hours on Wednesday, reaching $24.16. 751,399 shares of the stock traded hands, compared to its average volume of 859,861. Iridium Communications has a 1-year low of $16.87 and a 1-year high of $32.08. The business has a fifty day moving average price of $22.48 and a 200 day moving average price of $24.52. The company has a quick ratio of 1.60, a current ratio of 2.02 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $3.04 billion, a PE ratio of -17.76 and a beta of 1.43.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Tuesday, April 28th. The technology company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.11). Iridium Communications had a negative net margin of 30.71% and a negative return on equity of 4.24%. The company had revenue of $145.30 million for the quarter, compared to analysts’ expectations of $141.54 million. During the same period in the previous year, the firm posted ($0.18) earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts expect that Iridium Communications will post -0.67 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of IRDM. Chevy Chase Trust Holdings Inc. bought a new position in shares of Iridium Communications in the 4th quarter valued at about $31,000. Mutual of America Capital Management LLC raised its position in shares of Iridium Communications by 22.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,195 shares of the technology company’s stock valued at $94,000 after acquiring an additional 776 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Iridium Communications in the 4th quarter valued at approximately $96,000. Oppenheimer Asset Management Inc. raised its position in shares of Iridium Communications by 80.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,645 shares of the technology company’s stock valued at $104,000 after acquiring an additional 2,072 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Iridium Communications by 16.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,388 shares of the technology company’s stock valued at $120,000 after acquiring an additional 766 shares during the period. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

About Iridium Communications

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.

Featured Story: Cost of Debt

Analyst Recommendations for Iridium Communications (NASDAQ:IRDM)

Receive News & Ratings for Iridium Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iridium Communications and related companies with MarketBeat.com's FREE daily email newsletter.