ORBCOMM (NASDAQ:ORBC) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

ORBCOMM (NASDAQ:ORBC) issued its quarterly earnings data on Thursday. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05, MarketWatch Earnings reports. ORBCOMM had a negative return on equity of 8.56% and a negative net margin of 7.71%. The company had revenue of $56.73 million for the quarter, compared to analyst estimates of $56.21 million. ORBCOMM updated its Q3 2020
Pre-Market guidance to EPS.

Shares of NASDAQ:ORBC traded down $0.33 during trading on Friday, reaching $4.21. The stock had a trading volume of 864,192 shares, compared to its average volume of 556,538. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.52 and a current ratio of 3.23. The business has a fifty day moving average price of $3.79 and a 200-day moving average price of $3.20. ORBCOMM has a 1-year low of $1.24 and a 1-year high of $7.60.

Several brokerages have commented on ORBC. Roth Capital raised their price objective on ORBCOMM from $7.00 to $750.00 in a report on Thursday. Zacks Investment Research raised ORBCOMM from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Finally, BidaskClub raised ORBCOMM from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $192.25.

About ORBCOMM

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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Earnings History for ORBCOMM (NASDAQ:ORBC)

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