|Bid||25.40 x 900|
|Ask||25.43 x 1000|
|Day's Range||25.33 - 26.24|
|52 Week Range||17.91 - 28.24|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 25, 2020 - Mar 01, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||31.00|
Moody's Investors Service ("Moody's") assigned a B1 Corporate Family Rating (CFR) to Iridium Satellite LLC (Iridium or the Company), as well as a B1-PD Probability of Default (PDR), and SGL-1 Speculative Grade Liquidity (SGL) in connection with the proposed term loan upsizing and expected repayment of unsecured notes. Moody's affirmed the B1 rating on the upsized $1.75 billion senior secured first lien credit facilities. Iridium's credit facility consists of a 7-year, $1.65 billion Term Loan B (due 2026) following the proposed $200 million upsize, and a 5-year, $100 million Revolving credit facility (due 2024).
The maritime service capabilities will allow Iridium (IRDM) to extend critical service to the growing fleet of ships in the waters of the Arctic and Antarctica.
Iridium Communications Inc. (NASDAQ: IRDM) announced that on December 19, 2019 a Letter of Compliance was signed by the International Mobile Satellite Organization (IMSO), stating it has positively verified the operational and technical requirements as requested by the Maritime Safety Committee (MSC) of the International Maritime Organization (IMO) for Iridium to provide Global Maritime Distress and Safety System (GMDSS) service. The Letter of Compliance was formally presented to Iridium CEO Matt Desch by the Director General of IMSO, Captain Moin Ahmed, during a ceremony at Iridium's headquarters on the morning of January 13, 2020. The issuance of the letter formally authorizes Iridium to now provide satellite GMDSS service, bringing truly global coverage and a choice of both network and equipment to this critical emergency service for the first time.
In 2006 Matt Desch was appointed CEO of Iridium Communications Inc. (NASDAQ:IRDM). First, this article will compare...
Is Iridium Communications Inc. (NASDAQ:IRDM) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to […]
Iridium Communications Inc. (NASDAQ: IRDM) today announced the first seven companies it has authorized to provide its Global Maritime Distress and Safety System (GMDSS) services, planned for commercial introduction in the first half of 2020. The seven companies, Arion Communications, AST, Marlink, Marsat, NSSLGlobal, Satcom Global and Speedcast will be the first in the industry to provide truly global satellite GMDSS service to mariners, and the first to offer a new choice in satellite network and equipment. Iridium® GMDSS will be the first to feature all three GMDSS services - safety voice, distress alerting and maritime safety information messaging, as well as being able to utilize Iridium's global voice and data services – all in one cost-effective and compact terminal.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Iridium Communications Inc. New York, November 22, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Iridium Communications Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Iridium Communications : "I think it's got a great business model, and I think it's a buy," said Jim Cramer to one caller during the 'Lightning Round' segment of Mad Money Monday night. In this daily bar chart of IRDM, below, we can see that prices have been stuck in a sideways trading range since March with buying interest coming out around $20 and resistance appearing around $27-$28. Trading volume has declined from the middle of September and the daily On-Balance-Volume (OBV) line has shown weakness from April suggesting that sellers have been more aggressive for several months.
MCLEAN, Va., Nov. 4, 2019 /PRNewswire/ -- Iridium Communications Inc. (IRDM) today announced the closing of a $1.45 billion, seven-year term loan that sets the stage for the company to complete its financial transformation. The new credit agreement formally retires Iridium's previous credit facility initiated in 2010 and guaranteed by BPI France (formerly COFACE), which enabled Iridium to finance the Iridium® NEXT program. The term loan provides Iridium added financial flexibility to consider shareholder-friendly activities, including share buybacks, dividends and opportunistic strategic investments, coincident with anticipated reductions in net leverage.
Iridium (IRDM) delivered earnings and revenue surprises of 6.67% and 0.84%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
MCLEAN, Va. , Oct. 29, 2019 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the third quarter of 2019 and updated its full-year 2019 ...
The Insider Monkey team has completed processing the quarterly 13F filings for the June quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as […]
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But in contrast you can...
Developed for Iridium's global network and designed to provide the fastest L-band broadband service in the industry, the C700 will deliver up to 352kbps transmission and 704kbps reception speeds through the Iridium Certus platform. Intellian's C700 terminal takes full advantage of the new capabilities made possible by Iridium Certus.
Adrian Steckel, CEO of OneWeb, believes space is a “shared resource” and calls for regulations to level the playing field.
MCLEAN, Va. , Oct. 8, 2019 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") will host a conference call on Tuesday, October 29, 2019 at 8:30 a.m. Eastern Time (ET) to discuss ...
Moody's Investors Service (Moody's) affirmed Iridium Communications Inc.'s (Iridium or the Company) B2 Corporate Family Rating (CFR), the B2-PD Probability of Default Rating (PDR) and the Caa1 Senior Unsecured rating, and assigned its wholly owned subsidiary Iridium Satellite LLC's $1.55 billion senior secured first lien credit facilities a B1 rating. The facilities are expected to include a 7-year, $1.45 billion Term Loan B (due 2026) and a 5-year, $100 million Revolving credit facility (due 2024). The $100 million revolving credit will be undrawn at close.
MCLEAN, Va., Oct. 1, 2019 /PRNewswire/ -- Iridium Communications Inc. (IRDM) today announced that it has been awarded a 5-year, indefinite delivery/indefinite quantity (IDIQ) contract from the Defense Information Systems Agency on behalf of the United States Air Force Space Command (AFSpC) with potential revenues up to $76 million. Known as the Gateway Evolution Contract (GEC), this contract enables ongoing innovation and critical enhancements for the U.S. Government's dedicated Iridium gateway. It will enable adoption of the latest technology upgrades, both hardware and software, necessary to address emerging warfighter requirements and to ensure continued operations with the latest state-of-the-art satcom-based capabilities. The GEC is one of a trio of Iridium government gateway related contracts, which also includes the Gateway Maintenance and Support Service contract (GMSS), which is responsible for ensuring day-to-day peak operational performance of the facility, and the Enhanced Mobile Satellite Services Airtime Contract (EMSS), which provides unlimited voice, text and data services to the Department of Defense (DoD) and associated federal government partners through the government gateway. The previous iteration of the GEC was known as the Gateway Modernization Efforts contract (GME) and enabled the U.S. Government to make the investments necessary to take full of advantage of Iridium's now recently completed satellite constellation upgrade campaign, known as Iridium® NEXT.