Analysts forecast that ORBCOMM Inc (NASDAQ:ORBC) will announce sales of $73.77 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ORBCOMM’s earnings, with the lowest sales estimate coming in at $71.42 million and the highest estimate coming in at $75.50 million. ORBCOMM reported sales of $69.37 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The business is expected to announce its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that ORBCOMM will report full year sales of $292.71 million for the current fiscal year, with estimates ranging from $290.10 million to $294.82 million. For the next year, analysts anticipate that the firm will post sales of $319.72 million per share, with estimates ranging from $313.00 million to $329.68 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow ORBCOMM.

ORBCOMM (NASDAQ:ORBC) last issued its earnings results on Wednesday, August 1st. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $70.79 million during the quarter, compared to analysts’ expectations of $71.14 million. ORBCOMM had a negative return on equity of 12.82% and a negative net margin of 22.71%. ORBCOMM’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) EPS.

A number of equities analysts recently commented on the stock. ValuEngine upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Saturday, August 4th. Finally, BidaskClub cut shares of ORBCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. ORBCOMM has a consensus rating of “Buy” and an average target price of $14.00.

In related news, Director Jerome B. Eisenberg sold 5,000 shares of ORBCOMM stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $9.41, for a total value of $47,050.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 15,000 shares of company stock worth $145,450. 7.80% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL increased its position in shares of ORBCOMM by 10.9% in the first quarter. Gamco Investors INC. ET AL now owns 67,973 shares of the technology company’s stock valued at $637,000 after acquiring an additional 6,700 shares during the period. Granite Investment Partners LLC increased its position in shares of ORBCOMM by 0.5% in the second quarter. Granite Investment Partners LLC now owns 1,415,425 shares of the technology company’s stock valued at $14,295,000 after acquiring an additional 6,877 shares during the period. Rhumbline Advisers increased its position in shares of ORBCOMM by 12.9% in the second quarter. Rhumbline Advisers now owns 69,259 shares of the technology company’s stock valued at $700,000 after acquiring an additional 7,920 shares during the period. Gabelli Funds LLC increased its position in shares of ORBCOMM by 15.4% in the second quarter. Gabelli Funds LLC now owns 60,000 shares of the technology company’s stock valued at $606,000 after acquiring an additional 8,000 shares during the period. Finally, Swiss National Bank increased its position in shares of ORBCOMM by 7.2% in the first quarter. Swiss National Bank now owns 121,700 shares of the technology company’s stock valued at $1,140,000 after acquiring an additional 8,200 shares during the period. Institutional investors own 73.67% of the company’s stock.

Shares of ORBCOMM opened at $11.12 on Friday, MarketBeat reports. The firm has a market capitalization of $858.87 million, a P/E ratio of -13.09 and a beta of 1.04. ORBCOMM has a 52 week low of $8.50 and a 52 week high of $11.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.81 and a current ratio of 2.53.

About ORBCOMM

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers solutions, including network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, including 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 industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime, and government.

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