We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Iridium Communications (IRDM) Rises As Market Takes a Dip: Key Facts
Read MoreHide Full Article
In the latest market close, Iridium Communications (IRDM - Free Report) reached $25.42, with a +0.87% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.04%. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq appreciated by 0.03%.
Coming into today, shares of the satellite phone company had lost 11.55% in the past month. In that same time, the Computer and Technology sector gained 4.26%, while the S&P 500 gained 2.57%.
The upcoming earnings release of Iridium Communications will be of great interest to investors. The company's earnings report is expected on April 18, 2024. The company is predicted to post an EPS of $0.16, indicating a 100% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $196.81 million, down 4.12% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.72 per share and revenue of $799.04 million, which would represent changes of +500% and +1.05%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Iridium Communications. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11% higher. Iridium Communications is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Iridium Communications is currently trading at a Forward P/E ratio of 34.84. This valuation marks a premium compared to its industry's average Forward P/E of 10.74.
The Satellite and Communication industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 21, positioning it in the top 9% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IRDM in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Iridium Communications (IRDM) Rises As Market Takes a Dip: Key Facts
In the latest market close, Iridium Communications (IRDM - Free Report) reached $25.42, with a +0.87% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.04%. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq appreciated by 0.03%.
Coming into today, shares of the satellite phone company had lost 11.55% in the past month. In that same time, the Computer and Technology sector gained 4.26%, while the S&P 500 gained 2.57%.
The upcoming earnings release of Iridium Communications will be of great interest to investors. The company's earnings report is expected on April 18, 2024. The company is predicted to post an EPS of $0.16, indicating a 100% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $196.81 million, down 4.12% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.72 per share and revenue of $799.04 million, which would represent changes of +500% and +1.05%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Iridium Communications. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11% higher. Iridium Communications is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Iridium Communications is currently trading at a Forward P/E ratio of 34.84. This valuation marks a premium compared to its industry's average Forward P/E of 10.74.
The Satellite and Communication industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 21, positioning it in the top 9% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IRDM in the coming trading sessions, be sure to utilize Zacks.com.