Equities analysts predict that ORBCOMM Inc (NASDAQ:ORBC) will announce sales of $76.61 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for ORBCOMM’s earnings, with estimates ranging from $75.00 million to $79.12 million. ORBCOMM reported sales of $75.98 million in the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The business is expected to report its next earnings results on Thursday, March 7th.
According to Zacks, analysts expect that ORBCOMM will report full year sales of $286.41 million for the current fiscal year, with estimates ranging from $284.80 million to $288.92 million. For the next fiscal year, analysts expect that the firm will report sales of $313.45 million, with estimates ranging from $300.40 million to $323.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow ORBCOMM.
ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Tuesday, October 30th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. ORBCOMM had a negative net margin of 9.84% and a negative return on equity of 10.94%. The firm had revenue of $71.04 million during the quarter, compared to analysts’ expectations of $75.37 million. During the same quarter in the previous year, the company posted ($0.10) EPS. ORBCOMM’s revenue was up 2.4% on a year-over-year basis.
ORBC has been the subject of several research analyst reports. BidaskClub cut shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. ValuEngine lowered shares of ORBCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Finally, Zacks Investment Research lowered shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $14.00.
In other ORBCOMM news, Director Jerome B. Eisenberg sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $9.49, for a total transaction of $47,450.00. Following the transaction, the director now owns 925,305 shares in the company, valued at approximately $8,781,144.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.80% of the company’s stock.
Several large investors have recently made changes to their positions in ORBC. Amalgamated Bank purchased a new stake in shares of ORBCOMM in the second quarter worth about $113,000. BNP Paribas Arbitrage SA boosted its position in shares of ORBCOMM by 74.5% in the second quarter. BNP Paribas Arbitrage SA now owns 25,482 shares of the technology company’s stock worth $257,000 after buying an additional 10,881 shares during the period. Aperio Group LLC purchased a new stake in shares of ORBCOMM in the second quarter worth about $157,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of ORBCOMM by 58.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 166,736 shares of the technology company’s stock worth $1,684,000 after buying an additional 61,457 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of ORBCOMM in the second quarter worth about $1,553,000. Hedge funds and other institutional investors own 77.95% of the company’s stock.
ORBC stock traded down $0.18 during trading on Tuesday, hitting $9.08. The company had a trading volume of 414,212 shares, compared to its average volume of 492,595. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.80 and a quick ratio of 2.16. ORBCOMM has a 12 month low of $8.43 and a 12 month high of $11.95. The stock has a market capitalization of $716.28 million, a PE ratio of -10.81 and a beta of 1.07.
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers solutions, including network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, including trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, 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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