Brokerages expect ORBCOMM Inc (NASDAQ:ORBC) to announce sales of $76.61 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for ORBCOMM’s earnings, with the lowest sales estimate coming in at $75.00 million and the highest estimate coming in at $79.12 million. ORBCOMM posted sales of $75.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is expected to issue its next quarterly earnings report 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 forecast that the firm will report sales of $313.39 million, with estimates ranging from $300.40 million to $323.98 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover ORBCOMM.
Several research firms have weighed in on ORBC. ValuEngine downgraded shares of ORBCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. BidaskClub downgraded shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 16th. Royal Bank of Canada reaffirmed a “buy” rating on shares of ORBCOMM in a research note on Thursday, January 3rd. Finally, Zacks Investment Research downgraded shares of ORBCOMM from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.00.
In other news, CEO Marc Eisenberg sold 37,729 shares of ORBCOMM stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $8.60, for a total transaction of $324,469.40. Following the completion of the transaction, the chief executive officer now directly owns 439,542 shares in the company, valued at $3,780,061.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Constantine Milcos sold 4,201 shares of ORBCOMM stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $8.51, for a total transaction of $35,750.51. Following the transaction, the chief accounting officer now owns 25,116 shares of the company’s stock, valued at $213,737.16. The disclosure for this sale can be found here. Insiders have sold 71,224 shares of company stock valued at $609,805 over the last quarter. Corporate insiders own 7.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vestor Capital LLC purchased a new position in ORBCOMM during the third quarter worth about $43,000. Signet Investment Advisory Group Inc. purchased a new position in ORBCOMM during the fourth quarter worth about $61,000. FCA Corp TX purchased a new position in ORBCOMM during the third quarter worth about $109,000. Campbell & CO Investment Adviser LLC purchased a new position in ORBCOMM during the third quarter worth about $111,000. Finally, Family Management Corp purchased a new position in ORBCOMM during the third quarter worth about $114,000. Hedge funds and other institutional investors own 77.88% of the company’s stock.
ORBC opened at $8.47 on Tuesday. ORBCOMM has a 1-year low of $7.62 and a 1-year high of $11.25. The company has a quick ratio of 2.16, a current ratio of 2.80 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $671.35 million, a price-to-earnings ratio of -10.08 and a beta of 1.10.
ORBCOMM Company Profile
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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