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EchoStar vs. Iridium Communications: Which Satellite Stock is a Better Buy?

Stock MarketsApr 08, 2021 12:31PM ET
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© Reuters. EchoStar vs. Iridium Communications: Which Satellite Stock is a Better Buy?

The growing market for satellite applications to support rapidly expanding communication and connectivity capabilities is likely to benefit prominent satellite operators EchoStar Corporation (SATS) and Iridium Communications (NASDAQ:IRDM). Driven by the growth in commercial Internet of Things (IoT) and data networking services, we think these companies are poised to generate recurring revenues and grow their user bases significantly. But let’s find out which of these stocks is a better buy now.EchoStar Corporation (SATS) and Iridium Communications Inc. (IRDM) are two of the world’s leading satellite communication providers. SATS operates through Hughes and EchoStar Satellite Services segments to provide broadband network technologies, satellite services, and other managed services. IRDM delivers postpaid mobile voice and data satellite communications, personal connectivity devices, and various Internet of Things (IoT) services.

The increasing need for satellite-based services and broadband services, coupled with a growing demand for connectivity for voice and data services, is propelling the growth of SATS and IRDM. The rapid deployment of 5G technology and IoT services is expected to generate greater gains and position these two companies to benefit from sustained demand in the long run.

However, IRDM has lost 1.7% over the past three months, while SATS has returned 12.6% over the same period. Also, in terms of year-to-date performance, SATS is the clear winner with 14.4% gains versus IRDM’s 4%. But which of these stocks is a better pick now? Let’s find out.

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EchoStar vs. Iridium Communications: Which Satellite Stock is a Better Buy?
 

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