Orion Group Holdings Inc (NYSE:ORN) Expected to Announce Quarterly Sales of $159.27 Million

Wall Street analysts predict that Orion Group Holdings Inc (NYSE:ORN) will post sales of $159.27 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Orion Group’s earnings, with the highest sales estimate coming in at $162.00 million and the lowest estimate coming in at $156.53 million. Orion Group posted sales of $125.07 million during the same quarter last year, which suggests a positive year over year growth rate of 27.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Orion Group will report full year sales of $616.91 million for the current year, with estimates ranging from $603.71 million to $630.10 million. For the next year, analysts expect that the firm will post sales of $641.63 million, with estimates ranging from $625.00 million to $658.25 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Orion Group.

ORN has been the subject of a number of recent research reports. B. Riley increased their price objective on shares of Orion Group from $5.00 to $5.75 and gave the company a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of Orion Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Noble Financial reiterated a “buy” rating and issued a $7.10 price objective on shares of Orion Group in a report on Friday, August 9th. Mizuho reiterated a “buy” rating and issued a $7.10 price objective on shares of Orion Group in a report on Tuesday, July 2nd. Finally, ValuEngine upgraded shares of Orion Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $6.54.

Shares of ORN traded up $0.12 during mid-day trading on Friday, hitting $4.19. 174,855 shares of the company were exchanged, compared to its average volume of 320,597. Orion Group has a 1-year low of $1.80 and a 1-year high of $9.24. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.75. The firm’s 50 day simple moving average is $3.73. The stock has a market cap of $124.41 million, a PE ratio of -11.32 and a beta of 1.07.

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

Several large investors have recently bought and sold shares of ORN. RBF Capital LLC purchased a new position in shares of Orion Group during the 2nd quarter worth approximately $1,946,000. Grace & White Inc. NY boosted its position in shares of Orion Group by 35.3% during the 2nd quarter. Grace & White Inc. NY now owns 1,553,777 shares of the construction company’s stock worth $4,164,000 after purchasing an additional 405,794 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Orion Group by 8.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,387,323 shares of the construction company’s stock worth $11,750,000 after purchasing an additional 348,362 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Orion Group by 289.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 360,317 shares of the construction company’s stock worth $847,000 after purchasing an additional 267,828 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of Orion Group during the 2nd quarter worth approximately $534,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

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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