ORBCOMM (NASDAQ:ORBC) announced its quarterly earnings results on Wednesday. The technology company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01), MarketWatch Earnings reports. The firm had revenue of $66.04 million for the quarter, compared to the consensus estimate of $65.91 million. ORBCOMM had a negative net margin of 9.51% and a negative return on equity of 10.08%. ORBCOMM’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned ($0.13) EPS. ORBCOMM updated its Q2 2019 guidance to EPS.
Shares of ORBCOMM stock traded up $0.18 on Thursday, hitting $7.77. 42,185 shares of the company’s stock were exchanged, compared to its average volume of 880,970. The stock has a market capitalization of $574.98 million, a PE ratio of -23.65 and a beta of 0.99. ORBCOMM has a 1 year low of $6.19 and a 1 year high of $11.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.82 and a quick ratio of 2.22.
In other news, CAO Constantine Milcos sold 4,161 shares of ORBCOMM stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $7.16, for a total transaction of $29,792.76. Following the transaction, the chief accounting officer now owns 32,846 shares in the company, valued at approximately $235,177.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John J. Stolte, Jr. sold 4,207 shares of ORBCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $7.16, for a total transaction of $30,122.12. Following the transaction, the executive vice president now owns 109,788 shares in the company, valued at approximately $786,082.08. The disclosure for this sale can be found here. Insiders have sold a total of 37,581 shares of company stock worth $269,080 in the last quarter. Corporate insiders own 7.30% of the company’s stock.
A number of equities research analysts have commented on ORBC shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of ORBCOMM in a research report on Thursday, January 3rd. Roth Capital reaffirmed a “buy” rating on shares of ORBCOMM in a research report on Monday, March 4th. TheStreet downgraded shares of ORBCOMM from a “c-” rating to a “d+” rating in a research report on Friday, March 1st. ValuEngine downgraded shares of ORBCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, Craig Hallum downgraded shares of ORBCOMM from a “buy” rating to a “hold” rating and cut their target price for the stock from $13.00 to $8.50 in a research report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. ORBCOMM has a consensus rating of “Hold” and an average target price of $9.25.
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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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