Brokerages Expect ORBCOMM Inc (ORBC) Will Post Quarterly Sales of $66.89 Million

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Wall Street analysts expect that ORBCOMM Inc (NASDAQ:ORBC) will announce $66.89 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ORBCOMM’s earnings, with estimates ranging from $66.20 million to $67.78 million. ORBCOMM posted sales of $70.79 million during the same quarter last year, which suggests a negative year-over-year growth rate of 5.5%. The firm is expected to report its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that ORBCOMM will report full year sales of $285.11 million for the current fiscal year, with estimates ranging from $280.80 million to $288.02 million. For the next fiscal year, analysts expect that the business will report sales of $310.02 million, with estimates ranging from $294.10 million to $323.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for ORBCOMM.

ORBCOMM (NASDAQ:ORBC) last issued its earnings results on Wednesday, May 1st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). ORBCOMM had a negative return on equity of 8.39% and a negative net margin of 7.90%. The company had revenue of $66.04 million during the quarter, compared to analyst estimates of $65.91 million. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year.

A number of brokerages have weighed in on ORBC. Zacks Investment Research cut ORBCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Chardan Capital cut ORBCOMM from a “buy” rating to a “neutral” rating in a research report on Thursday, February 28th. Roth Capital reissued a “buy” rating on shares of ORBCOMM in a research report on Monday, March 4th. First Analysis lowered ORBCOMM from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $13.00 to $10.00 in a research note on Thursday, February 28th. Finally, TheStreet lowered ORBCOMM from a “c-” rating to a “d+” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.25.

Shares of ORBC stock traded up $0.01 on Tuesday, reaching $7.18. 10,709 shares of the company’s stock traded hands, compared to its average volume of 876,107. ORBCOMM has a 12-month low of $6.19 and a 12-month high of $11.25. The company has a current ratio of 2.64, a quick ratio of 2.10 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $580.83 million, a price-to-earnings ratio of -21.79 and a beta of 0.99.

In other ORBCOMM news, CEO Marc Eisenberg sold 27,878 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $7.16, for a total transaction of $199,606.48. Following the transaction, the chief executive officer now owns 446,951 shares of the company’s stock, valued at approximately $3,200,169.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John J. Stolte, Jr. sold 4,207 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $7.16, for a total value of $30,122.12. Following the transaction, the executive vice president now directly owns 109,788 shares in the company, valued at approximately $786,082.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,581 shares of company stock worth $269,080. Company insiders own 7.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. Coastal Investment Advisors Inc. acquired a new position in ORBCOMM during the 1st quarter worth $36,000. Signet Investment Advisory Group Inc. acquired a new position in ORBCOMM during the 4th quarter worth $61,000. Principal Financial Group Inc. acquired a new position in ORBCOMM during the 1st quarter worth $68,000. Hsbc Holdings PLC acquired a new position in ORBCOMM during the 1st quarter worth $70,000. Finally, Trexquant Investment LP acquired a new position in ORBCOMM during the 1st quarter worth $89,000. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

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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