-$0.06 EPS Expected for ORBCOMM Inc. (NASDAQ:ORBC) This Quarter

Wall Street analysts expect that ORBCOMM Inc. (NASDAQ:ORBC) will report earnings per share (EPS) of ($0.06) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ORBCOMM’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at ($0.04). ORBCOMM reported earnings per share of ($0.09) in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The company is scheduled to announce its next earnings results on Thursday, April 29th.

According to Zacks, analysts expect that ORBCOMM will report full year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.24) to ($0.06). For the next financial year, analysts expect that the business will report earnings of ($0.03) per share, with EPS estimates ranging from ($0.13) to $0.05. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover ORBCOMM.

ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Wednesday, February 24th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $63.81 million during the quarter, compared to the consensus estimate of $61.82 million. ORBCOMM had a negative net margin of 8.52% and a negative return on equity of 9.49%.

ORBC has been the subject of a number of recent research reports. Northland Securities boosted their price objective on shares of ORBCOMM from $6.00 to $10.00 in a report on Monday, December 21st. Roth Capital upped their price target on shares of ORBCOMM from $7.50 to $9.25 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. Zacks Investment Research raised shares of ORBCOMM from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a report on Thursday, March 18th. Raymond James upped their price target on shares of ORBCOMM from $8.00 to $10.00 and gave the stock a “strong-buy” rating in a report on Wednesday, March 3rd. Finally, Craig Hallum upped their price target on shares of ORBCOMM from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, February 24th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. ORBCOMM currently has a consensus rating of “Buy” and an average price target of $9.50.

In other ORBCOMM news, EVP John J. Stolte, Jr. sold 5,441 shares of the company’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $7.02, for a total value of $38,195.82. Following the completion of the transaction, the executive vice president now directly owns 149,327 shares in the company, valued at approximately $1,048,275.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Constantine Milcos sold 8,394 shares of the company’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $7.02, for a total transaction of $58,925.88. Following the completion of the transaction, the chief financial officer now owns 104,008 shares of the company’s stock, valued at $730,136.16. The disclosure for this sale can be found here. 6.74% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ORBC. Virtu Financial LLC acquired a new position in ORBCOMM in the 3rd quarter valued at approximately $35,000. Signet Investment Advisory Group Inc. acquired a new stake in shares of ORBCOMM during the fourth quarter worth $37,000. Jane Street Group LLC acquired a new stake in shares of ORBCOMM during the third quarter worth $56,000. Engineers Gate Manager LP acquired a new stake in shares of ORBCOMM during the fourth quarter worth $77,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of ORBCOMM during the fourth quarter worth $78,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

NASDAQ ORBC opened at $7.57 on Monday. The company has a quick ratio of 2.37, a current ratio of 2.93 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $598.67 million, a P/E ratio of -27.03 and a beta of 1.39. ORBCOMM has a 12-month low of $2.12 and a 12-month high of $9.25. The firm has a 50-day moving average price of $7.69 and a two-hundred day moving average price of $6.50.

About ORBCOMM

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.

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