ORBCOMM Inc (NASDAQ:ORBC) – Stock analysts at First Analysis issued their Q3 2019 earnings per share (EPS) estimates for shares of ORBCOMM in a research note issued on Wednesday, May 1st, according to Zacks Investment Research. First Analysis analyst anticipates that the technology company will post earnings per share of ($0.02) for the quarter. First Analysis currently has a “Outperform” rating and a $10.00 price target on the stock.
ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $66.04 million during the quarter, compared to analysts’ expectations of $65.91 million. ORBCOMM had a negative net margin of 7.90% and a negative return on equity of 8.39%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) earnings per share.
A number of other equities research analysts have also commented on ORBC. BidaskClub lowered ORBCOMM from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research raised ORBCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. ValuEngine lowered ORBCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Roth Capital reaffirmed a “buy” rating on shares of ORBCOMM in a research report on Monday, March 4th. Finally, TheStreet lowered ORBCOMM from a “c-” rating to a “d+” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.25.
NASDAQ ORBC opened at $6.89 on Friday. The firm has a market capitalization of $549.00 million, a P/E ratio of -20.88 and a beta of 0.99. ORBCOMM has a 12 month low of $6.19 and a 12 month high of $11.25. The company has a quick ratio of 2.10, a current ratio of 2.64 and a debt-to-equity ratio of 0.97.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC increased its holdings in ORBCOMM by 11.4% in the 1st quarter. Clearbridge Investments LLC now owns 1,869,928 shares of the technology company’s stock worth $12,678,000 after acquiring an additional 191,946 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in ORBCOMM in the 1st quarter worth about $188,000. M&T Bank Corp purchased a new stake in ORBCOMM in the 1st quarter worth about $111,000. Coastal Investment Advisors Inc. purchased a new stake in ORBCOMM in the 1st quarter worth about $36,000. Finally, Goldman Sachs Group Inc. increased its holdings in ORBCOMM by 26.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 308,301 shares of the technology company’s stock worth $2,090,000 after acquiring an additional 63,688 shares during the last quarter. 87.68% of the stock is owned by institutional investors.
In other news, CAO Constantine Milcos sold 4,161 shares of the firm’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 $29,792.76. Following the completion of the sale, the chief accounting officer now directly owns 32,846 shares of the company’s stock, valued at approximately $235,177.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John J. Stolte, Jr. sold 4,207 shares of ORBCOMM stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $7.16, for a total value of $30,122.12. Following the completion of the sale, the executive vice president now directly owns 109,788 shares of the company’s stock, valued at approximately $786,082.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,581 shares of company stock valued at $269,080. Insiders own 7.30% of the company’s stock.
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.