First Analysis Weighs in on ORBCOMM Inc’s Q3 2019 Earnings (ORBC)

ORBCOMM Inc (NASDAQ:ORBC) – Analysts at First Analysis issued their Q3 2019 earnings per share estimates for ORBCOMM in a note issued to investors on Wednesday, May 1st. First Analysis analyst forecasts 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.

ORBC has been the subject of a number of other reports. Zacks Investment Research downgraded ORBCOMM from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Chardan Capital downgraded ORBCOMM from a “buy” rating to a “neutral” rating in a report on Thursday, February 28th. Roth Capital reaffirmed a “buy” rating on shares of ORBCOMM in a report on Monday, March 4th. TheStreet downgraded ORBCOMM from a “c-” rating to a “d+” rating in a report on Friday, March 1st. Finally, ValuEngine downgraded ORBCOMM from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.25.

ORBC remained flat at $$7.75 on Friday. The company had a trading volume of 1,092,028 shares, compared to its average volume of 1,003,776. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.64 and a quick ratio of 2.22. The firm has a market capitalization of $615.49 million, a P/E ratio of -23.48 and a beta of 0.99. ORBCOMM has a 52-week low of $6.19 and a 52-week high of $11.25.

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

Hedge funds have recently bought and sold shares of the company. Signet Investment Advisory Group Inc. acquired a new stake in shares of ORBCOMM in the fourth quarter valued at approximately $61,000. Amalgamated Bank acquired a new stake in shares of ORBCOMM in the fourth quarter valued at approximately $92,000. Legal & General Group Plc boosted its holdings in shares of ORBCOMM by 10.5% in the fourth quarter. Legal & General Group Plc now owns 12,907 shares of the technology company’s stock valued at $107,000 after acquiring an additional 1,231 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of ORBCOMM in the third quarter valued at approximately $151,000. Finally, Marshall Wace LLP acquired a new stake in shares of ORBCOMM in the third quarter valued at approximately $155,000. 84.55% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Marc Eisenberg sold 27,878 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $7.16, for a total value of $199,606.48. Following the completion of the sale, the chief executive officer now directly owns 446,951 shares of the company’s stock, valued at $3,200,169.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Stolte, Jr. sold 4,207 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were 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 $786,082.08. The disclosure for this sale can be found here. Insiders sold 37,581 shares of company stock valued at $269,080 over the last ninety days. 7.30% of the stock is currently owned by corporate insiders.

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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