Analysts Expect ORBCOMM Inc (NASDAQ:ORBC) Will Post Quarterly Sales of $66.89 Million

Analysts expect that ORBCOMM Inc (NASDAQ:ORBC) will announce $66.89 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for ORBCOMM’s earnings. The highest sales estimate is $67.78 million and the lowest is $66.20 million. ORBCOMM posted sales of $70.79 million in the same quarter last year, which suggests a negative year over year growth rate of 5.5%. The company is expected to issue its next 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 company will report sales of $310.02 million, with estimates ranging from $294.10 million to $323.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for ORBCOMM.

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

Several research firms have recently commented on ORBC. BidaskClub raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Zacks Investment Research raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. TheStreet cut ORBCOMM from a “c-” rating to a “d+” rating in a research note on Friday, March 1st. Finally, Roth Capital reaffirmed a “buy” rating on shares of ORBCOMM in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. ORBCOMM currently has an average rating of “Hold” and an average target price of $9.25.

Institutional investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in shares of ORBCOMM during the fourth quarter worth $92,000. Legal & General Group Plc grew its stake in shares of ORBCOMM by 10.5% during the fourth quarter. Legal & General Group Plc now owns 12,907 shares of the technology company’s stock worth $107,000 after purchasing an additional 1,231 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of ORBCOMM by 58,476.9% during the first quarter. BNP Paribas Arbitrage SA now owns 15,230 shares of the technology company’s stock worth $103,000 after purchasing an additional 15,204 shares during the period. FCA Corp TX grew its stake in shares of ORBCOMM by 100.0% during the fourth quarter. FCA Corp TX now owns 20,000 shares of the technology company’s stock worth $165,000 after purchasing an additional 10,000 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of ORBCOMM by 335.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,989 shares of the technology company’s stock worth $190,000 after purchasing an additional 17,707 shares during the period. 87.61% of the stock is owned by institutional investors and hedge funds.

NASDAQ ORBC opened at $7.25 on Friday. The company has a fifty day moving average price of $7.05. The firm has a market cap of $577.64 million, a PE ratio of -21.97 and a beta of 1.00. ORBCOMM has a 52 week low of $6.19 and a 52 week high of $11.25. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.64 and a quick ratio of 2.10.

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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