Earnings Report: Here’s what to expect from Iridium Communications (NASDAQ:IRDM)

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Earnings results for Iridium Communications (NASDAQ:IRDM)

Iridium Communications Inc is expected* to report earnings on 10/20/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.12. The reported EPS for the same quarter last year was $-0.14.

Iridium Communications last announced its earnings data on July 28th, 2020. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05. The business earned $140.17 million during the quarter, compared to analysts’ expectations of $136.76 million. Its revenue for the quarter was down 2.0% compared to the same quarter last year. Iridium Communications has generated ($0.63) earnings per share over the last year. Iridium Communications has confirmed that its next quarterly earnings report will be published on Tuesday, October 20th, 2020.

Analyst Opinion on Iridium Communications (NASDAQ:IRDM)

4 Wall Street analysts have issued ratings and price targets for Iridium Communications in the last 12 months. Their average twelve-month price target is $30.67, predicting that the stock has a possible upside of 8.63%. The high price target for IRDM is $32.00 and the low price target for IRDM is $29.00. There are currently 4 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Iridium Communications has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $30.67, Iridium Communications has a forecasted upside of 8.6% from its current price of $28.23. Iridium Communications has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Iridium Communications (NASDAQ:IRDM)

Iridium Communications does not currently pay a dividend. Iridium Communications does not have a long track record of dividend growth.

Insiders buying/selling: Iridium Communications (NASDAQ:IRDM)

In the past three months, Iridium Communications insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $13,123,118.00 in company stock. Only 3.80% of the stock of Iridium Communications is held by insiders. 83.23% of the stock of Iridium Communications is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Iridium Communications (NASDAQ:IRDM

Earnings for Iridium Communications are expected to grow in the coming year, from ($0.41) to ($0.29) per share. The P/E ratio of Iridium Communications is -21.88, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Iridium Communications is -21.88, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Iridium Communications has a P/B Ratio of 2.54. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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