Analysts Anticipate ORBCOMM Inc (ORBC) to Announce -$0.05 EPS

Brokerages expect that ORBCOMM Inc (NASDAQ:ORBC) will report earnings of ($0.05) per share for the current quarter, according to Zacks. Three analysts have provided estimates for ORBCOMM’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.04). ORBCOMM reported earnings per share of ($0.10) during the same quarter last year, which would suggest a positive year over year growth rate of 50%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that ORBCOMM will report full-year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.30) to ($0.26). For the next year, analysts expect that the business will post earnings of $0.01 per share, with EPS estimates ranging from ($0.06) to $0.08. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow ORBCOMM.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ORBCOMM had a negative net margin of 22.71% and a negative return on equity of 12.82%. The business had revenue of $70.79 million for the quarter, compared to analyst estimates of $71.14 million. During the same period in the prior year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year.

ORBC has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. BidaskClub lowered shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 25th. Finally, ValuEngine upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company. ORBCOMM currently has an average rating of “Hold” and an average price target of $14.00.

ORBCOMM stock traded down $0.20 during mid-day trading on Monday, hitting $9.47. 452,824 shares of the company’s stock traded hands, compared to its average volume of 553,483. ORBCOMM has a fifty-two week low of $8.50 and a fifty-two week high of $11.95. The company has a market capitalization of $759.85 million, a price-to-earnings ratio of -11.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.53 and a quick ratio of 1.81.

In other news, Director Jerome B. Eisenberg sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $9.41, for a total value of $47,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 15,000 shares of company stock worth $155,050 over the last quarter. Company insiders own 7.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Goodman Financial Corp lifted its stake in shares of ORBCOMM by 5.2% during the second quarter. Goodman Financial Corp now owns 640,029 shares of the technology company’s stock valued at $6,464,000 after buying an additional 31,560 shares during the period. Federated Investors Inc. PA raised its stake in ORBCOMM by 48.0% during the second quarter. Federated Investors Inc. PA now owns 838,926 shares of the technology company’s stock worth $8,473,000 after purchasing an additional 272,010 shares during the period. Ardsley Advisory Partners raised its stake in ORBCOMM by 53.3% during the second quarter. Ardsley Advisory Partners now owns 115,000 shares of the technology company’s stock worth $1,162,000 after purchasing an additional 40,000 shares during the period. HPM Partners LLC raised its stake in ORBCOMM by 8.1% during the second quarter. HPM Partners LLC now owns 609,007 shares of the technology company’s stock worth $6,151,000 after purchasing an additional 45,568 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in ORBCOMM by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 676,732 shares of the technology company’s stock worth $6,835,000 after purchasing an additional 24,837 shares during the period. Institutional investors and hedge funds own 75.22% of the company’s stock.

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.

Recommended Story: The risks of owning bonds

Get a free copy of the Zacks research report on ORBCOMM (ORBC)

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.

Leave a Reply