ORBCOMM Inc. (ORBC) Announces Earnings Results

ORBCOMM Inc. (NASDAQ:ORBC) issued its quarterly earnings results on Thursday. The technology company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01), Briefing.com reports. ORBCOMM had a negative return on equity of 7.77% and a negative net margin of 25.32%. The business had revenue of $69.37 million for the quarter, compared to analyst estimates of $65.62 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The business’s revenue was up 49.9% on a year-over-year basis.

ORBCOMM (NASDAQ ORBC) traded down $1.62 during mid-day trading on Friday, hitting $9.74. 1,383,590 shares of the stock were exchanged, compared to its average volume of 522,664. The company has a current ratio of 2.76, a quick ratio of 2.28 and a debt-to-equity ratio of 0.86.

TRADEMARK VIOLATION NOTICE: This report was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.com-unik.info/2017/11/03/orbcomm-inc-orbc-announces-earnings-results.html.

A number of analysts have weighed in on ORBC shares. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target on shares of ORBCOMM in a report on Thursday, August 3rd. ValuEngine raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Northland Securities set a $13.00 price objective on shares of ORBCOMM and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Zacks Investment Research cut shares of ORBCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $13.25.

In other news, CFO Robert G. Costantini sold 140,169 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $11.26, for a total transaction of $1,578,302.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Constantine Milcos sold 13,832 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $11.27, for a total transaction of $155,886.64. The disclosure for this sale can be found here. Insiders have sold a total of 503,864 shares of company stock worth $5,650,845 in the last three months. Insiders own 9.50% of the company’s stock.

ORBCOMM Company Profile

ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), 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.

Earnings History for ORBCOMM (NASDAQ:ORBC)

What are top analysts saying about ORBCOMM Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ORBCOMM Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit