What is B. Riley’s Forecast for Globalstar Q4 Earnings?

Globalstar, Inc. (NYSEARCA:GSAT) – Research analysts at B. Riley issued their Q4 2024 earnings per share (EPS) estimates for shares of Globalstar in a report released on Tuesday, February 18th. B. Riley analyst M. Crawford expects that the company will post earnings of ($0.06) per share for the quarter. B. Riley has a “Buy” rating and a $60.00 price objective on the stock. The consensus estimate for Globalstar’s current full-year earnings is ($0.01) per share. B. Riley also issued estimates for Globalstar’s Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.11) EPS.

Other equities research analysts have also issued reports about the stock. Craig Hallum boosted their price objective on shares of Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Globalstar Price Performance

Shares of NYSEARCA:GSAT opened at $20.67 on Friday. The stock’s 50 day moving average price is $5.59. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of -689.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. Globalstar has a 12 month low of $15.00 and a 12 month high of $41.10.

Insider Activity

In other news, CEO Paul E. Jacobs sold 14,539 shares of Globalstar stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $2.19, for a total transaction of $31,840.41. Following the sale, the chief executive officer now directly owns 84,815 shares of the company’s stock, valued at approximately $185,744.85. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Monroe III purchased 530,000 shares of Globalstar stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $1.90 per share, with a total value of $1,007,000.00. Following the acquisition, the director now directly owns 6,834,090 shares of the company’s stock, valued at $12,984,771. The trade was a 8.41 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,030,000 shares of company stock valued at $5,987,000 and have sold 3,680,851 shares valued at $8,136,154. Insiders own 60.76% of the company’s stock.

Institutional Investors Weigh In On Globalstar

Several hedge funds and other institutional investors have recently modified their holdings of GSAT. XTX Topco Ltd boosted its holdings in Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after purchasing an additional 949,025 shares during the period. FMR LLC boosted its holdings in Globalstar by 32.7% in the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after purchasing an additional 1,102,776 shares during the period. Barclays PLC boosted its holdings in shares of Globalstar by 36.6% in the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after buying an additional 340,476 shares during the period. State Street Corp boosted its holdings in shares of Globalstar by 3.4% in the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock valued at $21,804,000 after buying an additional 580,305 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Globalstar by 36.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock valued at $2,811,000 after buying an additional 603,285 shares during the period. Institutional investors own 18.89% of the company’s stock.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.