Zacks: Brokerages Expect Orion Group Holdings Inc (ORN) Will Announce Quarterly Sales of $153.44 Million

Brokerages predict that Orion Group Holdings Inc (NYSE:ORN) will post $153.44 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Orion Group’s earnings. The lowest sales estimate is $146.87 million and the highest is $160.00 million. Orion Group reported sales of $159.77 million in the same quarter last year, which indicates a negative year over year growth rate of 4%. The company is scheduled to report its next quarterly earnings report on Thursday, August 1st.

According to Zacks, 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 financial year, analysts forecast that the firm will report sales of $618.37 million, with estimates ranging from $611.74 million to $625.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Orion Group.

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

Several research analysts recently commented on ORN shares. TheStreet cut shares of Orion Group from a “c-” rating to a “d” rating in a report on Tuesday, April 9th. B. Riley reduced their target price on shares of Orion Group from $7.00 to $4.00 and set a “neutral” rating for the company in a report on Friday, March 29th. Finally, Zacks Investment Research cut shares of Orion Group from a “hold” rating to a “sell” rating in a report on Saturday, March 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.69.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners raised its position in Orion Group by 79.1% during the fourth quarter. Boston Partners now owns 2,838,444 shares of the construction company’s stock worth $12,177,000 after acquiring an additional 1,253,496 shares in the last quarter. Grace & White Inc. NY raised its position in Orion Group by 40.3% during the fourth quarter. Grace & White Inc. NY now owns 1,044,334 shares of the construction company’s stock worth $4,480,000 after acquiring an additional 299,881 shares in the last quarter. BlackRock Inc. raised its position in Orion Group by 6.9% during the third quarter. BlackRock Inc. now owns 4,296,844 shares of the construction company’s stock worth $32,442,000 after acquiring an additional 278,938 shares in the last quarter. Man Group plc raised its position in Orion Group by 291.6% during the third quarter. Man Group plc now owns 286,210 shares of the construction company’s stock worth $2,161,000 after acquiring an additional 213,123 shares in the last quarter. Finally, Walthausen & Co. LLC raised its position in Orion Group by 91.8% during the fourth quarter. Walthausen & Co. LLC now owns 336,800 shares of the construction company’s stock worth $1,445,000 after acquiring an additional 161,240 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Shares of Orion Group stock traded down $0.07 on Friday, hitting $2.35. The company had a trading volume of 216,100 shares, compared to its average volume of 186,360. The stock has a market capitalization of $72.68 million, a PE ratio of -6.35 and a beta of 1.02. Orion Group has a twelve month low of $2.33 and a twelve month high of $9.83. The company has a quick ratio of 1.39, a current ratio of 1.40 and a debt-to-equity ratio of 0.73.

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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