Tag: Communications

Posted on

BWS Financial Analysts Lower Earnings Estimates for Iridium Communications Inc. (NASDAQ:IRDM)

BWS Financial Analysts Lower Earnings Estimates for Iridium Communications Inc. (NASDAQ:IRDM)

Iridium Communications Inc. (NASDAQ:IRDM – Get Rating) – Research analysts at BWS Financial lowered their Q3 2023 earnings estimates for Iridium Communications in a report released on Monday, November 28th. BWS Financial analyst H. Khorsand now forecasts that the technology company will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.04. The consensus estimate for Iridium Communications’ current full-year earnings is $0.08 per share.

Several other research analysts have also commented on IRDM. Raymond James raised their price target on shares of Iridium Communications from $51.00 to $60.00 and gave the company a “strong-buy” rating in a report on Friday, October 21st. Barclays lowered shares of Iridium Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $48.00 to $45.00 in a report on Wednesday, October 19th. StockNews.com upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating in a report on Friday, November 18th. Finally, Morgan Stanley raised their price target on shares of Iridium Communications from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, October 17th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Iridium Communications presently has a consensus rating of “Buy” and an average price target of $53.25.

Iridium Communications Trading Up 3.1 {21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

NASDAQ IRDM opened at $53.10 on Thursday. Iridium Communications has a one year low of $31.73 and a one year high of $53.61. The company’s 50 day moving average price is $49.12 and its 200 day moving average price is $43.71. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.52 and a current ratio of 2.82. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 1,327.83 and a beta of 1.13.

Iridium Communications (NASDAQ:IRDM – Get Rating) last released its earnings results on Thursday, October 20th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Iridium Communications had a net margin of 0.53{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a return on equity of 0.30{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The business had revenue of $184.04 million for the quarter, compared to analysts’ expectations of $180.91 million. During the same period last year, the company earned ($0.02) earnings per share. The company’s quarterly revenue was up 13.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on a year-over-year basis.

Institutional Trading of Iridium Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Iridium Communications by 0.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,129 shares of the technology company’s stock worth $1,781,000 after purchasing an additional 221 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Iridium Communications by 1.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the third quarter. Envestnet Asset Management Inc. now owns 13,582 shares of the technology company’s stock worth $603,000 after purchasing an additional 223 shares during the period. Telemus Capital LLC boosted its holdings in Iridium Communications by 4.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the third quarter. Telemus Capital LLC now owns 5,813 shares of the technology company’s stock worth $258,000 after purchasing an additional 247 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Iridium Communications by 1.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the third quarter. Institute for Wealth Management LLC. now owns 14,312 shares of the technology company’s stock worth $635,000 after purchasing an additional 256 shares during the period. Finally, US Bancorp DE boosted its holdings in Iridium Communications by 4.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the third quarter. US Bancorp DE now owns 7,522 shares of the technology company’s stock worth $334,000 after purchasing an additional 311 shares during the period. Institutional investors own 85.69{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.

Insider Activity

In other news, Director Parker William Rush sold 27,363 shares of Iridium Communications stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $52.00, for a total transaction of $1,422,876.00. Following the sale, the director now owns 190,044 shares in the company, valued at $9,882,288. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Parker William Rush sold 27,363 shares of Iridium Communications stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $52.00, for a total value of $1,422,876.00. Following the completion of the sale, the director now owns 190,044 shares in the company, valued at $9,882,288. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Timothy Kapalka sold 2,382 shares of Iridium Communications stock in a transaction on Monday, October 31st. The stock was sold at an average price of $51.25, for a total transaction of $122,077.50. Following the completion of the sale, the chief accounting officer now owns 19,896 shares of the company’s stock, valued at approximately $1,019,670. The disclosure for this sale can be found here. Insiders have sold 51,448 shares of company stock worth $2,667,224 over the last 90 days. Company insiders own 2.50{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the company’s stock.

About Iridium Communications

(Get Rating)

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.

Read More

Earnings History and Estimates for Iridium Communications (NASDAQ:IRDM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Iridium Communications, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Iridium Communications wasn’t on the list.

While Iridium Communications currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Posted on

Smarsh Launches New Communications Intelligence Platform

On Monday, Smarsh launched the future generation of its Communications Intelligence System, which is developed for firms in regulated industries and meant to provide for all their digital communications capture, archiving and oversight requires.

It has been a fast paced number of months for the firm, possessing declared the 7 days prior to its acquisition of the Electronic Safe and sound archiving and hazard administration merchandise line from the substantial multinational software agency Micro Target for $375 million. That offer is anticipated to close, pending regulatory acceptance, in the initial quarter of 2022.

Relevant: Smarsh Subsidiary Entreda Acquires Privva

A mere two days prior, on Nov. 1, Smarsh cybersecurity subsidiary Entreda introduced its acquisition of Privva, a cyber-chance evaluation business (terms of this offer were not disclosed). Entreda alone was acquired in Might 2020.

 

Relevant: Smarsh to Acquire AI Pioneer Digital Reasoning

Communications Intelligence Platform

With Smarsh’s new synthetic intelligence–powered and cloud-primarily based system, economical expert services corporations and people in other remarkably controlled enterprises can evaluate communications facts at scale, searching for risks as effectively as additional rapidly surfacing business perception.

The platform provides for capture and archiving help throughout additional than 80 communications channels, including email, workstream collaboration platforms (like Microsoft Groups), cell, social and audio.

Money services firms are necessary to seize and critique greater volumes of digital communications and facts than at any time right before to satisfy their regulatory retention and oversight obligations.

With the acquisition of groundbreaking synthetic intelligence technologies business Digital Reasoning a yr ago, Smarsh has been equipped to establish its personal in-residence purely natural language processing and device mastering know-how into the system, letting it to evaluate the two written and spoken communications data.

As the statement announcing the rollout mentioned, the new technology of the system is now geared up to surface area the signals, together with the “compliance and manufacturer hazards, costly operational glitches, safety threats, real-time cultural indicators and untapped income opportunities” in a firm’s communications.

“Legacy e mail archiving and surveillance remedies simply just weren’t designed to cope with the petabyte scale of disparate details established by corporations currently,” said Smarsh Chief Product or service Officer Goutam Nadella, in the assertion.

Smarsh has been a important corporation within just the money communications compliance area for about a 10 years, getting acquired various firms around that period of time, together with other main suppliers in the social media and compliance fields. It presently supports additional than 6,500 customer firms. In addition to its numerous prosperity administration buyers, the agency functions with all the top 10 banks in the United States and many other folks all around the planet.