Iridium Communications (IRDM, Financial) experienced a notable stock price decline, falling by 5.03%. The stock is currently priced at $31.88 with a trading volume of 854,362 shares, indicating a turnover rate of 0.75% and a price fluctuation amplitude of 7.24%.
Recent financial reports show Iridium Communications achieved a revenue of $213 million, a net profit of $24.45 million, and earnings per share of $0.21. The company's gross profit stood at $105 million, translating to a price-to-earnings (P/E) ratio of 34.34.
Analyst ratings reveal that out of seven firms, 71% recommend buying the stock, while 29% suggest holding, with no recommendations to sell. The broader telecommunications services sector, where Iridium operates, increased by 0.30%. Within this sector, Telephone and Data Systems, Lumen Technologies, Inc., and US Cellular showed significant gains and trading activity. Specifically, turnover rates were 2.85% for Telephone and Data Systems, 0.94% for Crexendo, Inc., and 0.90% for Lumen Technologies, Inc. Stocks with major price fluctuations include Telephone and Data Systems, Sify Technologies Limited, and US Cellular, with amplitudes of 15.97%, 12.87%, and 11.06%, respectively.
Iridium Communications is a global provider of voice and data communications services and products, serving businesses, U.S. and international government agencies, and other clients through a constellation of satellites in low Earth orbit. Their solutions cater to various sectors, including maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. The company supports subscribers worldwide, including the U.S. Department of Defense and other civilian and government entities.
