Sunday, March 7, 2021

Wall Street Analyst Downgrade Iridium Communications Inc. [IRDM]. What else is Wall St. saying

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Iridium Communications Inc. [NASDAQ: IRDM] traded at a low on 02/09/21, posting a -12.62 loss after which it closed the day’ session at $47.51. The company report on February 9, 2021 that Iridium Adds Kyoritsu Radio as Iridium Certus® Service Provider with Distribution Support from Furuno.

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– Iridium Communications Inc. (NASDAQ:IRDM) announced the addition of Kyoritsu Radio Service Co., Ltd as an Iridium Certus® service provider. Through this agreement, Kyoritsu Radio will also support the provisioning of Iridium Certus service by Furuno Electric Co., Ltd, expanding their portfolio of Iridium® satellite communication services. The Iridium Certus service is ideal for cargo ships, tankers, fishing vessels, workboats, and other watercraft as a primary or VSAT companion satellite communications solution. Operating on the Iridium network, it features truly global coverage and offers the fastest L-band speeds in the industry.

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Kyoritsu Radio Service is a leading provider of satellite communications services and has been an Iridium partner since 2016. Furuno, a global leader of maritime navigation and communications equipment, has been an Iridium partner since 2015. As a subsidiary of Furuno, Kyoritsu will now expand its Iridium portfolio of offerings by marketing Iridium Certus services with Furuno’s support and global sales network.

The results of the trading session contributed to over 3951010 shares changing hands. Over the past one week, the price volatility of Iridium Communications Inc. stands at 4.24% while the volatility over the past one month is 4.68%.

The market cap for IRDM stock reached $6.21 billion, with 133.76 million shares outstanding and 116.92 million shares in the current float. Compared to the average trading volume of 791.75K shares, IRDM reached a trading volume of 3951010 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Iridium Communications Inc. [IRDM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IRDM shares is $34.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IRDM stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Iridium Communications Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on February 08, 2021. The new note on the price target was released on December 11, 2020, representing the official price target for Iridium Communications Inc. stock. Previously, the target price had yet another raise to $32, while Sidoti analysts kept a Neutral rating on IRDM stock.

The Average True Range (ATR) for Iridium Communications Inc. is set at 2.44, with the Price to Sales ratio for IRDM stock in the period of the last 12 months amounting to 10.78. The Price to Book ratio for the last quarter was 4.49, with the Price to Cash per share for the same quarter was set at 1.40. Price to Free Cash Flow for IRDM in the course of the last twelve months was 32.58 with Quick ratio for the last quarter at 2.50.

How has IRDM stock performed recently?

Iridium Communications Inc. [IRDM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.50. With this latest performance, IRDM shares gained by 9.98% in over the last four-week period, additionally plugging by 60.72% over the last 6 months – not to mention a rise of 64.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IRDM stock in for the last two-week period is set at 51.26, with the RSI for the last a single of trading hit 42.78, and the three-weeks RSI is set at 56.57 for Iridium Communications Inc. [IRDM]. The present Moving Average for the last 50 days of trading for this stock 41.70, while it was recorded at 52.02 for the last single week of trading, and 30.46 for the last 200 days.

Iridium Communications Inc. [IRDM]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Iridium Communications Inc. [IRDM] shares currently have an operating margin of +1.81 and a Gross Margin at +20.98. Iridium Communications Inc.’s Net Margin is presently recorded at -28.91.

Return on Total Capital for IRDM is now 0.30, given the latest momentum, and Return on Invested Capital for the company is -4.85. Return on Equity for this stock declined to -10.59, with Return on Assets sitting at -4.24. When it comes to the capital structure of this company, Iridium Communications Inc. [IRDM] has a Total Debt to Total Equity ratio set at 123.80. Additionally, IRDM Total Debt to Total Capital is recorded at 55.32, with Total Debt to Total Assets ending up at 49.86. Long-Term Debt to Equity for the company is recorded at 122.82, with the Long-Term Debt to Total Capital now at 54.88.

Reflecting on the efficiency of the workforce at the company, Iridium Communications Inc. [IRDM] managed to generate an average of -$325,954 per employee. Receivables Turnover for the company is 8.01 with a Total Asset Turnover recorded at a value of 0.15.Iridium Communications Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.80.

Earnings analysis for Iridium Communications Inc. [IRDM]

With the latest financial reports released by the company, Iridium Communications Inc. posted -0.82/share EPS, while the average EPS was predicted by analysts to be reported at -0.22/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -272.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IRDM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Iridium Communications Inc. go to 10.00%.

Insider trade positions for Iridium Communications Inc. [IRDM]

There are presently around $5,160 million, or 93.10% of IRDM stock, in the hands of institutional investors. The top three institutional holders of IRDM stocks are: BLACKROCK INC. with ownership of 17,865,337, which is approximately 4.047% of the company’s market cap and around 2.10% of the total institutional ownership; BAMCO INC /NY/, holding 12,954,334 shares of the stock with an approximate value of $615.46 million in IRDM stocks shares; and VANGUARD GROUP INC, currently with $549.66 million in IRDM stock with ownership of nearly -1.311% of the company’s market capitalization.

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Positions in Iridium Communications Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 116 institutional holders increased their position in Iridium Communications Inc. [NASDAQ:IRDM] by around 5,421,463 shares. Additionally, 109 investors decreased positions by around 7,109,855 shares, while 48 investors held positions by with 96,075,583 shares. The mentioned changes placed institutional holdings at 108,606,901 shares, according to the latest SEC report filing. IRDM stock had 33 new institutional investments in for a total of 387,115 shares, while 23 institutional investors sold positions of 1,179,683 shares during the same period.

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