Iridium Communications Inc (IRDM) stock has gained 21% in the past six months compared with the S&P 500 composite's growth of 9.9%. IRDM stock gained 1.9% in the last trading session and closed at $31.02. IRDM is trading 31.2% below its 52-week high of $45.07, reached on Oct. 5, 2023. The stock had a dreary run on the trading front for most of the year. Recent developments, including a new stock buyback program and the launch of new services like Iridium NTN Direct, along with improving quarterly numbers, h ...

Satcom Direct Brasil and MRS Logística are deploying Iridium Certus terminals for reliable positive train control and essential rail line interoperability MCLEAN, Va., Oct. 1, 2024 /PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that Satcom Direct Brasil, a distributor of critical telecommunications services, and MRS Logística S.A., a freight train operator, have implemented Iridium Certus® satellite connectivi ...

MCLEAN, Va., Sept. 30, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Thursday, October 17, 2024 at 8:30 a.m. Eastern Time (ET) to discuss the Company's third-quarter 2024 financial results. In advance of the call on October 17, 2024, Iridium will issue its third-quarter 2024 earnings press release, which will be available on the investor relations page of the Company's website. ...

Iridium will use a stock buyback program to turn its single-digit growth rate into a double-digit growth rate. Iridium Communications (IRDM 3.30%) stock is in the dumps. Down 37% in 52 weeks, the satellite communications stock enjoyed a modest revival in July after beating on second-quarter earnings, and promising to maintain -- or even slightly accelerate -- its Q2 rate of 4% sales growth through the end of this year. At the time, I suggested that Iridium stock looked inexpensive at a price-to-free cash fl ...

Iridium Communications Inc. (IRDM) recently announced its fourth stock repurchase authorization in four years. The latest $500 million authorization, approved by its board of directors, is the largest in the company's history. It extends the total buyback authorization to $1.5 billion through Dec. 31, 2027. Iridium's stock repurchase program began in February 2021 with an initial authorization of $300 million. This was followed by another $300 million in March 2022 and $400 million in July 2023. The executi ...

Core Insights - Iridium Communications Inc. has authorized an additional $500 million stock repurchase program, bringing the total to $1.5 billion over the past four years, highlighting the company's strong business performance [1][2][3] Stock Repurchase Program - The new $500 million authorization is the largest in the company's history, following previous authorizations of $300 million in February 2021, $300 million in March 2022, and $400 million in July 2023 [2] - The repurchase program aims to maximize return on investment for shareholders, with a target net leverage below 4.0 times through 2026 and below 2.0 times operational EBITDA by the end of the decade [2] Financial Performance and Strategy - Following the completion of the Iridium® NEXT program, the company has started generating significant free cash flow and has committed to shareholder-friendly activities, returning over $1 billion through share repurchases and dividends in recent years [3] - The Board of Directors has the flexibility to adjust the repurchase timeframe, with transactions occurring on the open market or through negotiated deals [3] Company Overview - Iridium Communications Inc. operates the only mobile voice and data satellite communications network that provides global coverage, enabling real-time connections for various markets [4] - In 2024, the company acquired Satelles, Inc. and launched the Iridium Satellite Time and Location service, further expanding its service offerings [4]

Core Insights - Zacks Premium provides various tools for investors to enhance their stock market strategies, including daily updates on Zacks Rank and Industry Rank, access to research reports, and stock screens [1][8] - The Zacks Style Scores serve as complementary indicators to the Zacks Rank, helping investors select stocks with the highest potential to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated based on value, growth, and momentum characteristics, with scores ranging from A to F, where A indicates the highest potential for outperformance [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [4][5] Value Score - The Value Score targets investors looking for undervalued stocks, utilizing financial ratios such as P/E, PEG, and Price/Sales to identify attractive investment opportunities [3] Growth Score - The Growth Score emphasizes a company's future earnings potential and financial health, analyzing historical and projected earnings, sales, and cash flow [4] Momentum Score - The Momentum Score is designed for traders who capitalize on price trends, using factors like recent price changes and earnings estimate revisions to identify high-momentum stocks [4] VGM Score - The VGM Score combines all three Style Scores, providing a comprehensive indicator for investors who want to consider value, growth, and momentum simultaneously [5] Zacks Rank and Performance - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to guide investors in building successful portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [6][7] Stock Highlight: Iridium Communications (IRDM) - Iridium Communications, a satellite communications company, is currently rated 3 (Hold) with a VGM Score of B, indicating potential for growth [11] - The company is projected to experience a remarkable year-over-year earnings growth of 575% for the current fiscal year, supported by recent upward revisions in earnings estimates [12] - With a solid Zacks Rank and strong Growth and VGM Style Scores, Iridium Communications is recommended for investors seeking growth opportunities [13]

MCLEAN, Va., Sept. 10, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, today announced that Company executives will participate in fall investor conferences: The Deutsche Bank 32nd Annual Leveraged Finance Conference on Tuesday, September 24, 2024 at 2:20 p.m. ET. The 6th Annual Needham Virtual Infrastructure, Data Analytics Software & Cloud Communications Conference on Wednesday, November 20, 2024. The Deutsc ...

Core Insights - Iridium Communications Inc. (IRDM) has launched Iridium Certus GMDSS, enhancing maritime safety, compliance, and communication standards [1][2] - The maritime industry is facing increasing demands for effective communication and safety, making Iridium Certus GMDSS a timely solution [2] - The new system integrates various safety features, providing a unified communication solution for the maritime sector [3][4] Company Overview - Iridium Communications is a leading provider of mobile voice and data satellite communications, serving various industries including maritime, aviation, and emergency services [5] - The company has a strong global presence and partners with both governmental and non-governmental organizations [5] Financial Performance - In Q2 2024, Iridium's total service revenues increased by 5% year-over-year to $152.5 million, driven by a growing subscriber base [6] - The engineering and support service revenues surged by 25% due to lucrative contracts with the U.S. government [7] - Commercial services accounted for 62.6% of total revenues in Q2, generating $126 million, reflecting a 6% increase from the previous year [8]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market engagement and confidence [1] - The Zacks Style Scores serve as complementary indicators to the Zacks Rank, aiding investors in selecting stocks with high potential for market outperformance [2] Zacks Style Scores Overview - Stocks are rated A, B, C, D, or F based on value, growth, and momentum characteristics, with higher scores indicating better chances of outperforming the market [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5] Value Score - Focuses on identifying undervalued stocks using ratios like P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - Evaluates a company's financial health and future outlook through projected and historical earnings, sales, and cash flow [4] Momentum Score - Targets stocks experiencing upward or downward trends, utilizing factors like one-week price change and monthly earnings estimate changes [4] VGM Score - Combines all three Style Scores to provide a comprehensive indicator for selecting stocks with attractive value, growth forecasts, and promising momentum [5] Zacks Rank Integration - The Zacks Rank leverages earnings estimate revisions to assist investors in building successful portfolios [6] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [7] Stock Selection Strategy - To maximize returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [8] - Stocks with a 3 (Hold) rank should also have A or B Scores to ensure potential upside [8] Earnings Estimate Revisions - The direction of earnings estimate revisions is crucial in stock selection, as stocks with declining forecasts (ranked 4 or 5) pose higher risks [9] Company Spotlight: Iridium Communications - Iridium Communications Inc, founded in 2000, provides global voice and data communications services to businesses, governments, and NGOs [10] - Currently rated 3 (Hold) with a VGM Score of B, it has a Momentum Style Score of B and a 1.3% share price increase over the past four weeks [10][11] - Recent upward revisions in earnings estimates for fiscal 2024 have increased the Zacks Consensus Estimate by $0.07 to $0.81 per share, with an average earnings surprise of 202.2% [11]