Wall Street analysts expect ORBCOMM Inc (NASDAQ:ORBC) to post $66.89 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for ORBCOMM’s earnings. The highest sales estimate is $67.78 million and the lowest is $66.20 million. ORBCOMM reported sales of $70.79 million during the same quarter last year, which indicates a negative year over year growth rate of 5.5%. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 7th.
On average, analysts expect that ORBCOMM will report full year sales of $285.11 million for the current financial year, with estimates ranging from $280.80 million to $288.02 million. For the next fiscal year, analysts forecast that the company will post sales of $310.02 million, with estimates ranging from $294.10 million to $323.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover ORBCOMM.
ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $66.04 million during the quarter, compared to the consensus estimate of $65.91 million. ORBCOMM had a negative net margin of 7.90% and a negative return on equity of 8.39%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) earnings per share.
A number of analysts recently weighed in on ORBC shares. BidaskClub upgraded shares of ORBCOMM from a “strong sell” rating to a “sell” rating in a report on Friday, February 15th. First Analysis cut shares of ORBCOMM from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $13.00 to $10.00 in a report on Thursday, February 28th. Chardan Capital cut shares of ORBCOMM from a “buy” rating to a “neutral” rating in a report on Thursday, February 28th. Craig Hallum cut shares of ORBCOMM from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.00 to $8.50 in a report on Thursday, February 28th. Finally, ValuEngine cut shares of ORBCOMM from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.25.
Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of ORBCOMM by 8.3% during the third quarter. Bank of New York Mellon Corp now owns 733,186 shares of the technology company’s stock worth $7,963,000 after buying an additional 56,454 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ORBCOMM by 134.1% during the third quarter. JPMorgan Chase & Co. now owns 212,645 shares of the technology company’s stock worth $2,309,000 after buying an additional 121,824 shares during the period. Teachers Advisors LLC boosted its position in shares of ORBCOMM by 4.1% during the third quarter. Teachers Advisors LLC now owns 234,550 shares of the technology company’s stock worth $2,547,000 after buying an additional 9,156 shares during the period. Morgan Stanley boosted its position in shares of ORBCOMM by 23.0% during the third quarter. Morgan Stanley now owns 287,955 shares of the technology company’s stock worth $3,127,000 after buying an additional 53,936 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of ORBCOMM by 28,066.7% during the fourth quarter. Bank of Montreal Can now owns 142,242 shares of the technology company’s stock worth $1,175,000 after buying an additional 141,737 shares during the period. Institutional investors and hedge funds own 87.68% of the company’s stock.
NASDAQ:ORBC traded up $0.09 during trading hours on Wednesday, reaching $6.95. 458,700 shares of the company’s stock were exchanged, compared to its average volume of 612,524. The stock has a market capitalization of $544.18 million, a price-to-earnings ratio of -21.06 and a beta of 1.00. ORBCOMM has a 12 month low of $6.19 and a 12 month high of $11.25. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.10 and a current ratio of 2.64.
ORBCOMM Company Profile
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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