Take off with Iridium Communications Inc (IRDM): Get ready for trading

With 0.75 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.16 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $30.105 whereas the lowest price it dropped to was $29.34. The 52-week range on IRDM shows that it touched its highest point at $41.66 and its lowest point at $24.14 during that stretch. It currently has a 1-year price target of $40.50. With its current market cap of 3.43 billion, IRDM has annualized dividend of $0.54 while the current yield stands at 1.82%. Beta for the stock currently stands at 0.64.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IRDM was up-trending over the past week, with a rise of 6.06%, but this was down by -0.12% over a month. Three-month performance surged to 14.29% while six-month performance fell -1.07%. The stock lost -21.98% in the past year, while it has lost -28.09% so far this year. A look at the trailing 12-month EPS for IRDM yields 0.94 with Next year EPS estimates of 1.02. For the next quarter, that number is 0.16. This implies an EPS growth rate of 581.75% for this year and 24.38% for next year.

Float and Shares Shorts:

At present, 122.78 million IRDM shares are outstanding with a float of 100.19 million shares on hand for trading. On 2024-11-15, short shares totaled 7.8 million, which was 685.0 higher than short shares on 1728950400. In addition to Mr. Matthew J. Desch as the firm’s CEO & Director, Mr. Thomas J. Fitzpatrick CPA serves as its CFO, Chief Administrative Officer & Director.

Institutional Ownership:

Through their ownership of 0.86535 of IRDM’s outstanding shares, institutional investors have minority control over the company.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on 2024-09-30, IRDM reported revenue of $212771000.0 and operating income of $54852000.0. The EBITDA in the recently reported quarter was $106324000.0 and diluted EPS was $0.21.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IRDM since 12 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IRDM analysts setting a high price target of 50.0 and a low target of 30.0, the average target price over the next 12 months is 40.5. Based on these targets, IRDM could surge 68.92% to reach the target high and rise by 1.35% to reach the target low. Reaching the average price target will result in a growth of 36.82% from current levels.

Analysts have provided yearly estimates in a range of $0.84878 being high and $0.78742 being low. For IRDM, this leads to a yearly average estimate of $0.8181. The surprise factor in the prior quarter was $0.22. Based on analyst estimates, the high estimate for the next quarter is $0.33 and the low estimate is $0.19. The average estimate for the next quarter is thus $0.26.