Iridium Communications Inc. (NASDAQ:IRDM) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on March 02, 2017. The stock added about 20 percent in price since last results when it was at $8 a share. Based on the most relevant past-periods data, there is an 46.15 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 12 times out of last 26 reported quarters. It has beaten earnings-per-share estimates 58.% of the time in its last 12 earnings reports. It fell short of earnings estimates on 4 occasions, and it has met expectations 1 time.
Here’s how traders responded to IRDM earnings announcements over the past few quarters.
Iridium Communications Inc. (IRDM) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was -5.04 percent over the past four quarters. Back on October 27, 2016, it posted earnings per-share earnings at $0.26 which beat the consensus $0.24 projection (positive surprise of8.33%. For the quarter, revenue came in at 112.79M versus consensus estimate of 111.21M. The stock dropped 0 percent the session following the earnings reports were released, and on 7th day price change was -3.13 percent.
On July 28, 2016, it reported earnings at $0.22 a share compared with the consensus estimate of $0.26 per share (negative surprise of -15.38%). Revenue of 109.19M for that quarter was above the $107.34M analysts had expected. The stock retreated -2.6% the day following the earnings announcement, and on 7th day price change was -4.33%.
On April 28, 2016, it recorded $0.23 a share in earnings which topped the consensus estimate of $0.22 (positive surprise of 4.55%). Revenue for the quarter was $104.2M while analysts called for revenues to be $103.83M. The stock dropped -2.59% the day following the earnings data was made public, and on 7th day price change was 1.73%.
On February 25, 2016, it announced earnings per share at $0.14 versus the consensus estimate of $0.17 per share (negative surprise of -17.65%). That came on revenues of $106.42M for that period. Analysts had expected $104.63M in revenue.
Iridium Communications Inc. Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.17. The analysts’ present consensus range is $0.09-$0.22 for EPS. The market consensus range for revenue is between $102M and $111.02M, with an average of $106.59M.
Iridium Communications Inc. (NASDAQ:IRDM) last ended at $9.6, sending the company’s market cap near $919.4M. The consensus 12-month price target from analysts covering the stock is $12. The share price has declined -13.9% from its top level in 52 weeks and dropped 14.15% this year. It recently traded at a volume of 779806 shares. The recent trading ended with the price nearly -6.8 lower for the last 5 trading days, rebounding 56.35% from its 52-week low.