ORBCOMM Inc. (ORBC) Scheduled to Post Quarterly Earnings on Tuesday
ORBCOMM Inc. (NASDAQ:ORBC) is set to announce its earnings results before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of ($0.09) per share for the quarter.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.05). ORBCOMM had a negative return on equity of 6.16% and a negative net margin of 15.52%. The business had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $52.93 million. During the same period last year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts expect ORBCOMM to post $-0.38 EPS for the current fiscal year and $-0.14 EPS for the next fiscal year.
Shares of ORBCOMM Inc. (NASDAQ ORBC) traded up 0.54% on Tuesday, hitting $11.21. 21,419 shares of the stock were exchanged. The company’s market cap is $823.91 million. The firm’s 50-day moving average is $10.93 and its 200-day moving average is $10.71. ORBCOMM Inc. has a one year low of $7.15 and a one year high of $11.99.
ORBC has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating and set a $14.00 target price on shares of ORBCOMM in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Northland Securities set a $13.00 target price on shares of ORBCOMM and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, ValuEngine raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. ORBCOMM currently has a consensus rating of “Buy” and an average target price of $13.25.
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In related news, Director Jerome B. Eisenberg sold 7,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $10.55, for a total transaction of $73,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerome B. Eisenberg sold 24,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $11.04, for a total transaction of $264,960.00. Following the sale, the director now directly owns 1,056,141 shares of the company’s stock, valued at $11,659,796.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 503,864 shares of company stock valued at $5,651,195. Company insiders own 9.50% of the company’s stock.
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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