Analysts Anticipate ORBCOMM Inc. (ORBC) Will Announce Quarterly Sales of $71.47 Million
Wall Street analysts expect ORBCOMM Inc. (NASDAQ:ORBC) to report sales of $71.47 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for ORBCOMM’s earnings. The highest sales estimate is $73.15 million and the lowest is $70.60 million. ORBCOMM reported sales of $46.83 million in the same quarter last year, which indicates a positive year over year growth rate of 52.6%. The company is expected to issue its next earnings results on Tuesday, February 27th.
On average, analysts expect that ORBCOMM will report full year sales of $71.47 million for the current year, with estimates ranging from $248.80 million to $251.39 million. For the next fiscal year, analysts expect that the firm will post sales of $276.45 million per share, with estimates ranging from $268.60 million to $286.14 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow ORBCOMM.
ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). ORBCOMM had a negative net margin of 25.32% and a negative return on equity of 8.01%. The company had revenue of $69.37 million for the quarter, compared to analyst estimates of $65.62 million. During the same quarter last year, the business earned ($0.04) EPS. The company’s revenue for the quarter was up 49.9% on a year-over-year basis.
ORBCOMM (NASDAQ ORBC) opened at $9.98 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.79 and a quick ratio of 2.21. ORBCOMM has a twelve month low of $7.77 and a twelve month high of $11.99.
In other news, Director Jerome B. Eisenberg sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $11.46, for a total value of $80,220.00. Following the sale, the director now owns 967,363 shares in the company, valued at $11,085,979.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John J. Stolte, Jr. sold 39,230 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $10.45, for a total transaction of $409,953.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,230 shares of company stock worth $638,714. 9.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in ORBCOMM by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,014,327 shares of the technology company’s stock worth $45,362,000 after purchasing an additional 95,586 shares during the period. Hood River Capital Management LLC lifted its position in ORBCOMM by 14.6% in the third quarter. Hood River Capital Management LLC now owns 1,329,991 shares of the technology company’s stock worth $13,925,000 after purchasing an additional 168,967 shares during the period. State Street Corp lifted its position in ORBCOMM by 6.5% in the second quarter. State Street Corp now owns 1,250,722 shares of the technology company’s stock worth $14,137,000 after purchasing an additional 76,762 shares during the period. William Blair Investment Management LLC lifted its position in ORBCOMM by 10.4% in the second quarter. William Blair Investment Management LLC now owns 1,236,064 shares of the technology company’s stock worth $13,968,000 after purchasing an additional 116,878 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in ORBCOMM by 1.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,065,085 shares of the technology company’s stock worth $11,151,000 after purchasing an additional 12,185 shares during the period. 77.83% of the stock is owned by hedge funds and other institutional investors.
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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