Brokerages Expect ORBCOMM Inc. (ORBC) to Post -$0.10 Earnings Per Share
Brokerages expect ORBCOMM Inc. (NASDAQ:ORBC) to announce earnings per share (EPS) of ($0.10) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ORBCOMM’s earnings, with the lowest EPS estimate coming in at ($0.11) and the highest estimate coming in at ($0.08). ORBCOMM reported earnings per share of ($0.04) in the same quarter last year, which suggests a negative year over year growth rate of 150%. The business is expected to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that ORBCOMM will report full-year earnings of ($0.37) per share for the current fiscal year, with EPS estimates ranging from ($0.38) to ($0.35). For the next fiscal year, analysts expect that the firm will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.19) to ($0.11). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover ORBCOMM.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.05. ORBCOMM had a negative net margin of 15.52% and a negative return on equity of 6.16%. The company had revenue of $56.96 million for the quarter, compared to the consensus estimate of $52.93 million. During the same quarter in the previous year, the business earned ($0.06) earnings per share. ORBCOMM’s revenue was up 13.8% compared to the same quarter last year.
A number of analysts have recently commented on ORBC shares. Craig Hallum set a $13.00 price objective on ORBCOMM and gave the stock a “buy” rating in a report on Tuesday, June 13th. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price target on shares of ORBCOMM in a report on Thursday, August 3rd. Zacks Investment Research upgraded ORBCOMM from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Friday, July 14th. Northland Securities set a $13.00 price target on ORBCOMM and gave the company a “buy” rating in a report on Monday, August 28th. Finally, ValuEngine upgraded ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $12.92.
In other news, Director Jerome B. Eisenberg sold 7,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $11.18, for a total transaction of $78,260.00. Following the completion of the sale, the director now directly owns 962,780 shares in the company, valued at $10,763,880.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brun Christian Le sold 82,901 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $11.17, for a total value of $926,004.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 503,864 shares of company stock valued at $5,655,605. 9.50% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in ORBC. Principal Financial Group Inc. grew its stake in shares of ORBCOMM by 3.9% during the first quarter. Principal Financial Group Inc. now owns 12,006 shares of the technology company’s stock valued at $115,000 after acquiring an additional 447 shares in the last quarter. Teza Capital Management LLC acquired a new stake in shares of ORBCOMM during the first quarter valued at about $116,000. PNC Financial Services Group Inc. acquired a new stake in shares of ORBCOMM during the second quarter valued at about $120,000. Legal & General Group Plc grew its stake in shares of ORBCOMM by 4.4% during the second quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock valued at $180,000 after acquiring an additional 670 shares in the last quarter. Finally, Paloma Partners Management Co grew its stake in shares of ORBCOMM by 3.3% during the first quarter. Paloma Partners Management Co now owns 19,881 shares of the technology company’s stock valued at $190,000 after acquiring an additional 644 shares in the last quarter. Institutional investors own 78.48% of the company’s stock.
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Shares of ORBCOMM (NASDAQ:ORBC) traded down 1.145% during trading on Friday, hitting $10.795. The stock had a trading volume of 459,159 shares. The stock has a 50-day moving average price of $11.26 and a 200 day moving average price of $10.27. ORBCOMM has a 12 month low of $7.15 and a 12 month high of $11.99. The company’s market cap is $793.41 million.
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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