NEW YORK (
) is trading at unusually high volume Wednesday with 2.3 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down 42 cents (-4.8%) at $8.30 as of 11:57 a.m. ET.
Iridium has a market cap of $621.7 million and is part of the
industry. Shares are up 5.7% year to date as of the close of trading on Tuesday.
Iridium Communications Inc. provides satellite voice and data communications services to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. The company has a P/E ratio of 28.6, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 16.1.
TheStreet Ratings rates Iridium as hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full
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