Analysts expect ORBCOMM Inc. (NASDAQ:ORBC) to announce $71.47 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for ORBCOMM’s earnings. The lowest sales estimate is $70.60 million and the highest is $73.15 million. ORBCOMM reported sales of $46.83 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 52.6%. The company is expected to issue its next earnings report on Tuesday, February 27th.

On average, analysts expect that ORBCOMM will report full year sales of $71.47 million for the current financial year, with estimates ranging from $248.80 million to $251.39 million. For the next financial year, analysts expect that the business will post sales of $276.45 million per share, with estimates ranging from $268.60 million to $286.14 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover ORBCOMM.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $69.37 million for the quarter, compared to analysts’ expectations of $65.62 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s revenue for the quarter was up 49.9% on a year-over-year basis.

Several research analysts recently commented on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price objective on shares of ORBCOMM in a report on Thursday, August 3rd. Northland Securities set a $13.00 price objective on shares of ORBCOMM and gave the stock a “buy” rating in a report on Monday, August 28th. Zacks Investment Research downgraded shares of ORBCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, ValuEngine raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a report 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. The stock has an average rating of “Buy” and a consensus target price of $13.25.

In related news, Director Jerome B. Eisenberg sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $10.55, for a total value of $73,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 21,000 shares of company stock valued at $231,560. 9.50% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in ORBCOMM by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 5,803,530 shares of the technology company’s stock valued at $55,424,000 after purchasing an additional 824,761 shares during the period. Dimensional Fund Advisors LP boosted its holdings in ORBCOMM by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,014,327 shares of the technology company’s stock valued at $45,362,000 after purchasing an additional 95,586 shares during the period. Granite Investment Partners LLC boosted its holdings in ORBCOMM by 2.1% in the 2nd quarter. Granite Investment Partners LLC now owns 1,752,933 shares of the technology company’s stock valued at $19,809,000 after purchasing an additional 36,437 shares during the period. Hood River Capital Management LLC boosted its holdings in ORBCOMM by 14.6% in the 3rd quarter. Hood River Capital Management LLC now owns 1,329,991 shares of the technology company’s stock valued at $13,925,000 after purchasing an additional 168,967 shares during the period. Finally, State Street Corp boosted its holdings in ORBCOMM by 6.5% in the 2nd quarter. State Street Corp now owns 1,250,722 shares of the technology company’s stock valued at $14,137,000 after purchasing an additional 76,762 shares during the period. 76.00% of the stock is owned by hedge funds and other institutional investors.

Shares of ORBCOMM (NASDAQ:ORBC) opened at $10.24 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.21 and a current ratio of 2.79. ORBCOMM has a one year low of $7.77 and a one year high of $11.99.

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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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