Iridium Communications (NASDAQ:IRDM – Get Free Report) posted its quarterly earnings results on Tuesday. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10, Briefing.com reports. The company had revenue of $201.07 million during the quarter, compared to analysts’ expectations of $204.01 million. Iridium Communications had a return on equity of 10.23% and a net margin of 11.08%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) EPS.
Iridium Communications Trading Up 4.7 %
Shares of NASDAQ:IRDM traded up $1.31 during trading on Friday, reaching $29.11. 851,842 shares of the stock were exchanged, compared to its average volume of 1,092,339. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 132.38 and a beta of 0.65. Iridium Communications has a 12-month low of $24.14 and a 12-month high of $54.42. The firm’s 50-day moving average price is $27.49 and its 200 day moving average price is $29.53. The company has a debt-to-equity ratio of 2.08, a quick ratio of 2.52 and a current ratio of 2.25.
Iridium Communications Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Iridium Communications’s previous quarterly dividend of $0.13. Iridium Communications’s payout ratio is presently 266.67%.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on IRDM
Iridium Communications Company Profile
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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