Zacks: Analysts Expect ORBCOMM Inc (ORBC) Will Post Earnings of -$0.05 Per Share

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Equities analysts expect that ORBCOMM Inc (NASDAQ:ORBC) will report ($0.05) earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for ORBCOMM’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.07). ORBCOMM posted 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 business is scheduled to report its next earnings results on Thursday, November 1st.

On average, 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 anticipate that the company will report earnings of $0.01 per share, with EPS estimates ranging from ($0.06) to $0.08. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover ORBCOMM.

ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings data on Wednesday, August 1st. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ORBCOMM had a negative return on equity of 12.82% and a negative net margin of 22.71%. The firm had revenue of $70.79 million during the quarter, compared to analyst estimates of $71.14 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis.

ORBC has been the topic of a number of research reports. Zacks Investment Research downgraded ORBCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. BidaskClub upgraded ORBCOMM from a “hold” rating to a “buy” rating in a report on Saturday, July 7th. Finally, ValuEngine upgraded ORBCOMM from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.00.

In other ORBCOMM news, Director Jerome B. Eisenberg sold 5,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $10.06, for a total transaction of $50,300.00. Following the transaction, the director now owns 944,998 shares in the company, valued at $9,506,679.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 15,000 shares of company stock worth $151,050. Corporate insiders own 7.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ORBC. Wells Fargo & Company MN grew its holdings in ORBCOMM by 7.3% during the first quarter. Wells Fargo & Company MN now owns 319,646 shares of the technology company’s stock valued at $2,994,000 after purchasing an additional 21,859 shares during the last quarter. Prudential Financial Inc. grew its holdings in ORBCOMM by 19.4% during the first quarter. Prudential Financial Inc. now owns 72,066 shares of the technology company’s stock valued at $675,000 after purchasing an additional 11,700 shares during the last quarter. Swiss National Bank grew its holdings in ORBCOMM by 7.2% during the first quarter. Swiss National Bank now owns 121,700 shares of the technology company’s stock valued at $1,140,000 after purchasing an additional 8,200 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in ORBCOMM by 5.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 369,129 shares of the technology company’s stock valued at $3,459,000 after purchasing an additional 20,599 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in ORBCOMM by 2.7% during the first quarter. Northern Trust Corp now owns 941,106 shares of the technology company’s stock valued at $8,818,000 after purchasing an additional 25,023 shares during the last quarter. Institutional investors own 75.22% of the company’s stock.

NASDAQ:ORBC traded up $0.12 during mid-day trading on Friday, reaching $10.86. The stock had a trading volume of 477,400 shares, compared to its average volume of 576,307. 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 $840.00 million, a P/E ratio of -12.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.81 and a current ratio of 2.53.

About ORBCOMM

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.

See Also: How Do You Calculate Return on Equity (ROE)?

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