Iridium Communications Inc (NASDAQ: IRDM) has reported earnings for its third fiscal quarter (ending September 30) of $0.21 versus a loss $-0.01 for the same period a year ago. This result was in line with the consensus estimate of $0.21. E.P.S. were $0.93 for the latest four quarters through September 30 versus $-0.19 for the same period a year ago.
Recent Price Action
Iridium Communications Inc (NASDAQ: IRDM) stock enjoyed a major increase of 11.2% on 10/17/24. The shares closed at $33.57. Moreover, exceptionally high trading volume at 323% of normal accompanied the advance. The stock has been weak relative to the market over the last nine months but has risen 12.9% during the last week.
Current PriceTarget Research Rating
IRDM’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Iridium Communications has a current Value Trend Rating of F (Lowest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing complementary signals. Iridium Communications has a slightly negative Power Rating of 34 and a very low Appreciation Score of 14, triggering the Lowest Value Trend Rating.
Rating Review
In light of this new information and very positive price change we are reviewing our current Overall Rating of F. This review will be completed in the next several days.
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