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Iridium's (IRDM) GMDSS Solutions Utilized by Jan De Nul Group
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Iridium Communications Inc (IRDM - Free Report) has announced that Jan De Nul Group is adopting the company’s Global Maritime Distress and Safety System (GMDSS) solution.
GMDSS is an internationally regulated service that delivers life-saving services such as distress alerts, distress voice and maritime safety information to help mariners in need, including Arctic and Antarctic waters. The above-mentioned services are delivered through the company’s L-band satellite using a single terminal.
Jan De Nul is a maritime construction and civil engineering company which owns a wide array of dredging and offshore installation fleets. The company's operations maintain the depth of rivers and canals, as well as develop existing ports and construct new ports to ensure that shipping traffic is possible.
Jan De Nul plans to include GMDSS in all its previous and prospective vessels to provide improved safety and communications services to its users. It will integrate the Long-Range Identification and Tracking and Ship Security Alert System along with GMDSS in one terminal.
For Iridium, increasing demand for maritime safety solutions augurs well. Per a report from MarketsAndMarkets, the Global Maritime Safety market is expected to witness a CAGR of 6.9% between 2021 and 2026 and reach $33.4 billion. The market is being driven by higher trade and freight transport activities along with the need to manage supply chain operations as well as increasing awareness to thwart maritime activity mishaps, added the report.
Iridium is a satellite communications company that offers dedicated commercial global voice and data communications. Its Certus service continues to boost its market share in the maritime safety market.
In March, the company announced that its Certus Service now includes an ultra-low bandwidth video transmission technology solution — FireLight —that is capable of live video transmission from as low as 4 Kbps. This cost-effective and weather-resistant solution is capable of video transmission to and from any location in the world.
The company reported earnings of 4 cents per share in second-quarter 2022, ahead of the Zacks Consensus Estimate of breakeven earnings. The company delivered 3 cents in the prior-year quarter.
Quarterly revenues of $174.9 million, increasing 17% from the year-ago quarter’s levels. The upside can be attributed to higher demand for equipment and new subscriber activations. The top line surpassed the consensus mark by 6.6%.
However, the company’s performance is affected by increasing competition and pandemic-induced supply-chain constraints.
Iridium currently has a Zacks Rank #3 (Hold). Shares of the company have lost 9.7% in the past year compared with the industry’s fall of 22.6%.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 1.5% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 11% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 9.8% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 29.2% in the past year.
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Iridium's (IRDM) GMDSS Solutions Utilized by Jan De Nul Group
Iridium Communications Inc (IRDM - Free Report) has announced that Jan De Nul Group is adopting the company’s Global Maritime Distress and Safety System (GMDSS) solution.
GMDSS is an internationally regulated service that delivers life-saving services such as distress alerts, distress voice and maritime safety information to help mariners in need, including Arctic and Antarctic waters. The above-mentioned services are delivered through the company’s L-band satellite using a single terminal.
Jan De Nul is a maritime construction and civil engineering company which owns a wide array of dredging and offshore installation fleets. The company's operations maintain the depth of rivers and canals, as well as develop existing ports and construct new ports to ensure that shipping traffic is possible.
Iridium Communications Inc Price and Consensus
Iridium Communications Inc price-consensus-chart | Iridium Communications Inc Quote
Jan De Nul plans to include GMDSS in all its previous and prospective vessels to provide improved safety and communications services to its users. It will integrate the Long-Range Identification and Tracking and Ship Security Alert System along with GMDSS in one terminal.
For Iridium, increasing demand for maritime safety solutions augurs well. Per a report from MarketsAndMarkets, the Global Maritime Safety market is expected to witness a CAGR of 6.9% between 2021 and 2026 and reach $33.4 billion. The market is being driven by higher trade and freight transport activities along with the need to manage supply chain operations as well as increasing awareness to thwart maritime activity mishaps, added the report.
Iridium is a satellite communications company that offers dedicated commercial global voice and data communications. Its Certus service continues to boost its market share in the maritime safety market.
In March, the company announced that its Certus Service now includes an ultra-low bandwidth video transmission technology solution — FireLight —that is capable of live video transmission from as low as 4 Kbps. This cost-effective and weather-resistant solution is capable of video transmission to and from any location in the world.
The company reported earnings of 4 cents per share in second-quarter 2022, ahead of the Zacks Consensus Estimate of breakeven earnings. The company delivered 3 cents in the prior-year quarter.
Quarterly revenues of $174.9 million, increasing 17% from the year-ago quarter’s levels. The upside can be attributed to higher demand for equipment and new subscriber activations. The top line surpassed the consensus mark by 6.6%.
However, the company’s performance is affected by increasing competition and pandemic-induced supply-chain constraints.
Iridium currently has a Zacks Rank #3 (Hold). Shares of the company have lost 9.7% in the past year compared with the industry’s fall of 22.6%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Cadence Design Systems (CDNS - Free Report) , Badger Meter (BMI - Free Report) and Arista Networks (ANET - Free Report) . Badger Meter, Arista Networks and Cadence Design Systems each sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 1.5% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 11% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 9.8% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 29.2% in the past year.