Brokerages expect ORBCOMM Inc (NASDAQ:ORBC) to report ($0.05) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for ORBCOMM’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.06). ORBCOMM posted earnings per share of ($0.07) during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.6%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 26th.
According to Zacks, analysts expect that ORBCOMM will report full year earnings of ($0.25) per share for the current fiscal year, with EPS estimates ranging from ($0.26) to ($0.21). For the next fiscal year, analysts forecast that the company will report earnings of ($0.13) per share, with EPS estimates ranging from ($0.19) to ($0.09). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow ORBCOMM.
ORBCOMM (NASDAQ:ORBC) last released its earnings results on Wednesday, October 30th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). ORBCOMM had a negative net margin of 8.03% and a negative return on equity of 8.61%. The company had revenue of $69.19 million during the quarter, compared to the consensus estimate of $71.43 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue was down 2.6% compared to the same quarter last year.
A number of equities research analysts have issued reports on ORBC shares. BidaskClub upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Craig Hallum upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Thursday, August 22nd. Finally, Zacks Investment Research downgraded shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $8.75.
ORBC stock traded down $0.10 during midday trading on Friday, reaching $4.06. The company had a trading volume of 451,800 shares, compared to its average volume of 778,364. ORBCOMM has a 1 year low of $3.58 and a 1 year high of $9.93. The company has a current ratio of 2.77, a quick ratio of 2.14 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $347.59 million, a P/E ratio of -12.30 and a beta of 1.01. The company has a 50 day moving average of $4.51 and a two-hundred day moving average of $6.02.
In other news, Director John E. Major bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $4.30 per share, for a total transaction of $86,000.00. Following the acquisition, the director now directly owns 121,617 shares of the company’s stock, valued at approximately $522,953.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marc Eisenberg bought 18,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $4.52 per share, for a total transaction of $81,360.00. Insiders have bought a total of 53,000 shares of company stock worth $246,110 in the last 90 days. 7.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ORBC. Tower Research Capital LLC TRC raised its holdings in ORBCOMM by 1,024.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,220 shares of the technology company’s stock worth $35,000 after acquiring an additional 6,578 shares during the period. FNY Investment Advisers LLC raised its holdings in ORBCOMM by 1,793.9% in the 3rd quarter. FNY Investment Advisers LLC now owns 12,500 shares of the technology company’s stock worth $59,000 after acquiring an additional 11,840 shares during the period. Capital Fund Management S.A. bought a new position in ORBCOMM in the 2nd quarter worth $82,000. Steward Partners Investment Advisory LLC bought a new position in ORBCOMM in the 2nd quarter worth $95,000. Finally, Kovack Advisors Inc. bought a new position in ORBCOMM in the 3rd quarter worth $131,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as 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 transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.
See Also: What is a Fibonacci Channel?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ORBCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ORBCOMM and related companies with MarketBeat.com's FREE daily email newsletter.