Iridium Communications (NASDAQ:IRDM – Get Free Report) issued its quarterly earnings results on Tuesday. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10, Briefing.com reports. The company had revenue of $201.07 million during the quarter, compared to the consensus estimate of $204.01 million. Iridium Communications had a net margin of 11.08% and a return on equity of 9.94%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.24) EPS.
Iridium Communications Price Performance
IRDM stock traded up $1.34 during midday trading on Thursday, reaching $27.80. 2,471,389 shares of the stock were exchanged, compared to its average volume of 1,094,033. The company has a fifty day moving average price of $27.55 and a 200 day moving average price of $29.54. Iridium Communications has a 52 week low of $24.14 and a 52 week high of $54.42. The stock has a market capitalization of $3.38 billion, a PE ratio of 126.00 and a beta of 0.65. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52.
Iridium Communications Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Iridium Communications’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, June 14th. Iridium Communications’s dividend payout ratio is presently 266.67%.
Analyst Ratings Changes
Get Our Latest Stock Report on IRDM
About Iridium Communications
Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international 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.
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