ORBCOMM (NASDAQ:ORBC) released its earnings results on Wednesday. The technology company reported ($0.08) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08), Briefing.com reports. ORBCOMM had a negative net margin of 7.90% and a negative return on equity of 8.39%. The firm had revenue of $67.10 million during the quarter, compared to analyst estimates of $67.40 million. During the same period last year, the business earned ($0.09) earnings per share. The business’s revenue was down 5.2% on a year-over-year basis.
Shares of NASDAQ ORBC opened at $5.86 on Thursday. ORBCOMM has a twelve month low of $5.65 and a twelve month high of $11.25. The stock has a market cap of $635.81 million, a price-to-earnings ratio of -17.76 and a beta of 1.02. The stock has a 50 day moving average price of $7.56. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.10 and a current ratio of 2.64.
Several research firms have recently issued reports on ORBC. BidaskClub upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Zacks Investment Research upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.25.
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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