ORBCOMM Inc. (NASDAQ:ORBC) Given Consensus Recommendation of “Hold” by Brokerages

ORBCOMM Inc. (NASDAQ:ORBC) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $11.50.

Separately, Zacks Investment Research cut shares of ORBCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 20th.

Shares of ORBCOMM stock opened at $11.49 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.92 and a quick ratio of 1.50. ORBCOMM has a fifty-two week low of $3.32 and a fifty-two week high of $11.55. The firm has a fifty day moving average price of $11.36 and a two-hundred day moving average price of $10.76. The company has a market cap of $915.25 million, a PE ratio of -23.45 and a beta of 1.57.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Tuesday, August 3rd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). ORBCOMM had a negative net margin of 15.10% and a negative return on equity of 8.21%. The business had revenue of $65.93 million during the quarter, compared to analyst estimates of $65.82 million. Analysts expect that ORBCOMM will post -0.17 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of ORBCOMM by 6.3% during the 1st quarter. BlackRock Inc. now owns 5,712,973 shares of the technology company’s stock worth $43,589,000 after purchasing an additional 337,164 shares in the last quarter. Vanguard Group Inc. increased its position in shares of ORBCOMM by 11.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,315,103 shares of the technology company’s stock worth $48,502,000 after purchasing an additional 429,267 shares in the last quarter. State Street Corp increased its position in shares of ORBCOMM by 34.8% during the 2nd quarter. State Street Corp now owns 3,155,461 shares of the technology company’s stock worth $35,467,000 after purchasing an additional 815,314 shares in the last quarter. Water Island Capital LLC acquired a new stake in shares of ORBCOMM during the 2nd quarter worth about $34,669,000. Finally, River Road Asset Management LLC increased its position in shares of ORBCOMM by 4.3% during the 1st quarter. River Road Asset Management LLC now owns 2,588,836 shares of the technology company’s stock worth $19,753,000 after purchasing an additional 105,633 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

ORBCOMM Company Profile

ORBCOMM, Inc engages in the provision of network connectivity, devices, device management, and web reporting applications. Its products are designed to track, monitor, control and enhance security for a variety of assets, such as heavy equipment; fixed asset monitoring; government and homeland security; and in industries for manufacturing, warehousing, and supply chain management.

Further Reading: Backdoor Roth IRA Conversion and Strategy

Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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.