Near a 52-Week Low and Buying Back Shares, Is Iridium Stock a Buy?

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 ...