ORBCOMM Inc. (ORBC) Scheduled to Post Earnings on Thursday
ORBCOMM Inc. (NASDAQ:ORBC) will be releasing its earnings data before the market opens on Thursday, November 2nd. Analysts expect ORBCOMM to post earnings of ($0.09) per share for the quarter.
ORBCOMM (NASDAQ:ORBC) last posted its earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). The company had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $52.93 million. ORBCOMM had a negative net margin of 15.52% and a negative return on equity of 6.16%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. On average, analysts expect ORBCOMM to post $-0.36 EPS for the current fiscal year and $-0.13 EPS for the next fiscal year.
ORBCOMM Inc. (NASDAQ:ORBC) opened at 11.31 on Wednesday. ORBCOMM Inc. has a 1-year low of $7.15 and a 1-year high of $11.99. The company’s 50-day moving average is $10.95 and its 200 day moving average is $10.77. The stock’s market capitalization is $831.26 million.
ORBC has been the subject of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and set a $14.00 price objective on shares of ORBCOMM in a research report on Thursday, August 3rd. ValuEngine upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Northland Securities set a $13.00 price objective on shares of ORBCOMM and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Zacks Investment Research cut shares of ORBCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. ORBCOMM presently has an average rating of “Buy” and a consensus price target of $13.25.
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In other ORBCOMM news, SVP Constantine Milcos sold 13,832 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $11.27, for a total transaction of $155,886.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brun Christian Le sold 65,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $11.15, for a total transaction of $724,750.00. The disclosure for this sale can be found here. Insiders have sold 496,864 shares of company stock valued at $5,570,625 over the last 90 days. 9.50% of the stock is currently owned by company insiders.
ORBCOMM Company Profile
ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), 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.
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