Orion Group Holdings Inc (NYSE:ORN) Expected to Announce Quarterly Sales of $153.44 Million

Analysts expect Orion Group Holdings Inc (NYSE:ORN) to announce sales of $153.44 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Orion Group’s earnings. The highest sales estimate is $160.00 million and the lowest is $146.87 million. Orion Group reported sales of $159.77 million during the same quarter last year, which indicates a negative year over year growth rate of 4%. The business is expected to issue its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Orion Group will report full year sales of $605.09 million for the current financial year, with estimates ranging from $580.08 million to $630.10 million. For the next fiscal year, analysts expect that the firm will post sales of $618.37 million, with estimates ranging from $611.74 million to $625.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Orion Group.

Orion Group (NYSE:ORN) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.05). The firm had revenue of $143.11 million for the quarter, compared to analysts’ expectations of $126.76 million. Orion Group had a negative return on equity of 9.60% and a negative net margin of 20.19%.

ORN has been the topic of a number of recent research reports. B. Riley reduced their target price on Orion Group from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Friday, March 29th. TheStreet lowered Orion Group from a “c-” rating to a “d” rating in a research note on Tuesday, April 9th. Finally, Zacks Investment Research raised Orion Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.69.

In other Orion Group news, VP Peter R. Buchler purchased 30,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $1.98 per share, for a total transaction of $59,400.00. Following the acquisition, the vice president now owns 180,656 shares of the company’s stock, valued at approximately $357,698.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert L. Tabb purchased 20,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $1.94 per share, with a total value of $38,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,872 shares in the company, valued at approximately $52,131.68. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 63,285 shares of company stock worth $124,098. 7.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of Orion Group by 68.4% during the third quarter. Morgan Stanley now owns 278,561 shares of the construction company’s stock valued at $2,103,000 after acquiring an additional 113,155 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Orion Group by 20.8% during the fourth quarter. Rhumbline Advisers now owns 80,651 shares of the construction company’s stock valued at $346,000 after acquiring an additional 13,876 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Orion Group during the fourth quarter valued at approximately $49,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Orion Group during the fourth quarter valued at approximately $47,000. Finally, Prudential Financial Inc. raised its holdings in shares of Orion Group by 14.5% during the fourth quarter. Prudential Financial Inc. now owns 53,986 shares of the construction company’s stock valued at $232,000 after acquiring an additional 6,838 shares during the last quarter. Institutional investors own 93.36% of the company’s stock.

ORN stock opened at $2.31 on Wednesday. Orion Group has a 1 year low of $1.80 and a 1 year high of $9.83. The company has a current ratio of 1.40, a quick ratio of 1.39 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $2.30. The stock has a market cap of $68.31 million, a price-to-earnings ratio of -6.24 and a beta of 0.98.

About Orion Group

Orion Group Holdings, Inc operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company's marine construction services include construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures.

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