Which Way Are Iridium Communications Inc (IRDM) and Sirius XM Holdings Inc (SIRI) Heading?
New York, NY – GDP INSIDER – 03/23/2015.
This article discusses three companies: Iridium Communications Inc (NASDAQ:IRDM) and Sirius XM Holdings Inc (NASDAQ:SIRI)
Iridium Communications Inc (NASDAQ:IRDM) fell back slightly on Friday declining 0.21% or $0.02 to close at $9.60 on very active trading of 2.292 million shares compared to its three month average trading volume of 0.949 million. The mobile voice and data low orbit satellite communications provider has been bouncing between $8.42 and $10.17 for the last three months but has been steadily climbing overall for the last 52 weeks with the stock up 23.56%. So far this year Iridium Communications Inc has not been doing as well with the stock underperforming, down 1.54% compared to 2.39% for the S&P 500. However, the company is enjoying strong quarterly earnings growth of 47.80% year on year, a one year target estimate of $12 and a bullish MACD crossover looking likely there is still plenty of upside potential in the stock making it a good hold and potential medium to long term buy.
Sirius XM Holdings Inc (NASDAQ:SIRI) continued to climb on Friday with the stock hitting $4 during the day, close to its 52 week high of $4.04 before falling back slightly to close up 0.51% or $0.02 at $3.98 with more than 36.854 million shares changing hands, compared to its three month average trading volume of 32.307 million. The satellite radio broadcasting service has been enjoying solid growth so far this year with the stock up 13.71% YTD and 18.71% over the last 52 weeks. Sirius XM Holdings Inc is currently converging towards a bullish MACD crossover and has strong quarterly revenue growth of 9.10% year on year but with its RSI relatively high at 62.74 it is not clear whether the stock has much more upside potential. However, with a one year market consensus target estimate of $4.40 the stock is a hold but not a buy at this time.
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