Iridium Communications Inc. (NASDAQ:IRDM) has a beta value of 1.4 and has seen 1,125,497 shares traded in the last trading session. The company, currently valued at $3.5 Billion, closed the last trade at $26.46 per share which meant it gained $0.7 on the day or 3.04% during that session. The IRDM stock price is -21.24% off its 52-week high price of $32.08 and 36.24% above the 52-week low of $16.87. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.17 Million shares traded. The 3-month trading volume is 786.83 Million shares.
The consensus among analysts is that Iridium Communications Inc. (IRDM) is a Buy stock at the moment, with a recommendation rating of 1.6. None of the analysts rate the stock as a Sell, while 2 rate it as Overweight. None out of 5 have rated it as a Hold, with 3 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.12.
Iridium Communications Inc. (NASDAQ:IRDM) trade information
Sporting 3.04% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Jul 02 when the IRDM stock price touched $27.41- or saw a rise of 3.47%. Year-to-date, Iridium Communications Inc. shares have moved 7.39%, while the 5-day performance has seen it change 4.09%. Over the past 30 days, the shares of Iridium Communications Inc. (NASDAQ:IRDM) have changed 9.29%. Short interest in the company has seen 8.17 Million shares shorted with days to cover at 0.01.
Wall Street analysts have a consensus price target for the stock at $30, which means that the shares’ value could jump 13.38% from current levels. The projected low price target is $28 while the price target rests at a high of $33. In that case, then, we find that the current price level is +24.72% off the targeted high while a plunge would see the stock lose 5.82% from current levels.
Iridium Communications Inc. (IRDM) estimates and forecasts
Figures show that Iridium Communications Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +6.52% over the past 6 months, with this year growth rate of 6.35%, compared to 8.2% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 25% and 21.4% for the next quarter. Revenue growth from the last financial year stood is estimated to be +0.4%.
5 analysts offering their estimates for the company have set an average revenue estimate of $136.77 Million for the current quarter. 5 have an estimated revenue figure of $139.83 Million for the next quarter concluding in September 01, 2020. Year-ago sales stood $143.1 Million and $144.78 Million respectively for this quarter and the next, and analysts expect sales will grow by -4.4% for the current quarter and -3.4% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -34% over the past 5 years. Earnings growth for 2020 is a modest -514.9% while over the next 5 years, the company’s earnings are expected to increase by 10%.
Iridium Communications Inc. (NASDAQ:IRDM)’s Major holders
Insiders own 12.48% of the company shares, while shares held by institutions stand at 84.86% with a share float percentage of 96.95%. Investors are also buoyed by the number of investors in a company, with Iridium Communications Inc. having a total of 344 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 14.72 Million shares worth more than $328.77 Million. As of March 30, 2020, Blackrock Inc. held 11.13% of shares outstanding.
The other major institutional holder is BAMCO Inc., with the holding of over 12.98 Million shares as of March 30, 2020. The firm’s total holdings are worth over $289.92 Million and represent 9.82% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Baron Growth Fund and Smallcap World Fund. As of March 30, 2020, the former fund manager holds about 6.7% shares in the company for having 8862608 shares of worth $197.9 Million while later fund manager owns 7.2 Million shares of worth $160.82 Million as of March 30, 2020, which makes it owner of about 5.45% of company’s outstanding stock.