Iridium Communications (NASDAQ:IRDM) Releases Earnings Results, Beats Estimates By $0.05 EPS
Iridium Communications (NASDAQ:IRDM) released its quarterly earnings data on Tuesday. The technology company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05, MarketWatch Earnings reports. Iridium Communications had a negative net margin of 29.87% and a negative return on equity of 3.97%. The business had revenue of $140.17 million during the quarter, compared to analyst estimates of $136.76 million. During the same quarter last year, the business earned ($0.16) earnings per share. Iridium Communications’s quarterly revenue was down 2.0% compared to the same quarter last year.
Shares of NASDAQ:IRDM traded down $0.94 during trading hours on Friday, hitting $26.75. 27,374 shares of the company’s stock traded hands, compared to its average volume of 748,054. 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 $26.11 and a 200-day moving average price of $24.98. The firm has a market capitalization of $3.56 billion, a P/E ratio of -20.87 and a beta of 1.41. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.60.
In other Iridium Communications news, CEO Matthew J. Desch sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $28.50, for a total transaction of $5,700,000.00. Following the completion of the transaction, the chief executive officer now owns 1,061,846 shares in the company, valued at $30,262,611. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. Niehaus sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $25.66, for a total value of $641,500.00. The disclosure for this sale can be found here. Insiders have sold 334,375 shares of company stock valued at $9,388,906 in the last 90 days. Company insiders own 3.80% of the company’s stock.
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.
Further Reading: What is a Backdoor Roth IRA?
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.