Here's Why Iridium Communications (IRDM) is a Strong Growth Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
Iridium Communications (IRDM)
Founded in 2000 and headquartered in McLean, VA, Iridium Communications Inc. is the only satellite communications company that offers dedicated commercial global voice and data communications. The company delivers an array of reliable and low latency communications services to businesses, consumers, wireline and wireless telecommunications operators and Internet service providers. The company also offers commercial satellite communication services to the U.S. and foreign governments, and other non-governmental organizations.
IRDM boasts a Growth Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 214.3% year-over-year for 2023, while Wall Street anticipates its top line to improve by 12.7%.
Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.17 to $0.22 per share. IRDM boasts an average earnings surprise of 250%.
On a historic basis, Iridium Communications has generated cash flow growth of 6.8%, and is expected to report cash flow expansion of 5.5% this year.
IRDM should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
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Iridium Communications Inc (IRDM) : Free Stock Analysis Report
