Equities analysts forecast that ORBCOMM Inc. (NASDAQ:ORBC) will post earnings of ($0.10) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ORBCOMM’s earnings, with estimates ranging from ($0.12) to ($0.09). ORBCOMM posted earnings of ($0.04) per share in the same quarter last year, which indicates a negative year over year growth rate of 150%. The business is expected to report its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that ORBCOMM will report full year earnings of ($0.84) per share for the current financial year, with EPS estimates ranging from ($0.86) to ($0.82). For the next year, analysts expect that the business will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.19) to ($0.09). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover ORBCOMM.
ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). ORBCOMM had a negative return on equity of 8.01% and a negative net margin of 25.32%. The firm had revenue of $69.37 million during the quarter, compared to the consensus estimate of $65.62 million. During the same period in the prior year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 49.9% on a year-over-year basis.
ORBC has been the topic of a number of research reports. Canaccord Genuity boosted their price objective on ORBCOMM from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Zacks Investment Research raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Northland Securities set a $13.00 price objective on ORBCOMM and gave the stock a “buy” rating in a research note on Monday, August 28th. Finally, ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $13.25.
In other news, Director Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock in a transaction on Friday, December 1st. The stock was sold at an average price of $10.67, for a total transaction of $74,690.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John J. Stolte, Jr. sold 39,230 shares of ORBCOMM stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $10.45, for a total value of $409,953.50. The disclosure for this sale can be found here. Insiders sold a total of 60,230 shares of company stock worth $638,714 over the last 90 days. Insiders own 9.50% of the company’s stock.
Several hedge funds have recently modified their holdings of ORBC. Hood River Capital Management LLC purchased a new position in shares of ORBCOMM during the second quarter valued at $13,120,000. Westfield Capital Management Co. LP purchased a new position in ORBCOMM in the second quarter valued at about $11,898,000. Pax World Management LLC purchased a new position in ORBCOMM in the second quarter valued at about $8,743,000. Eagle Asset Management Inc. purchased a new position in ORBCOMM in the second quarter valued at about $7,211,000. Finally, Griffin Asset Management Inc. purchased a new position in ORBCOMM in the third quarter valued at about $3,772,000. Institutional investors and hedge funds own 77.83% of the company’s stock.
ORBCOMM (NASDAQ ORBC) traded down $0.02 on Monday, hitting $10.10. The stock had a trading volume of 403,500 shares, compared to its average volume of 549,425. ORBCOMM has a 12 month low of $7.77 and a 12 month high of $11.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.21 and a current ratio of 2.79.
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ORBCOMM Company Profile
ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government.
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