Orion Group Holdings, Inc. Forecasted to Earn Q2 2024 Earnings of $0.01 Per Share (NYSE:ORN)

Orion Group Holdings, Inc. (NYSE:ORN) – B. Riley issued their Q2 2024 EPS estimates for Orion Group in a report released on Friday, April 26th. B. Riley analyst A. Rygiel anticipates that the construction company will post earnings per share of $0.01 for the quarter. B. Riley currently has a “Buy” rating and a $9.50 price target on the stock. The consensus estimate for Orion Group’s current full-year earnings is $0.20 per share. B. Riley also issued estimates for Orion Group’s Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.11 EPS and FY2025 earnings at $0.21 EPS.

Orion Group (NYSE:ORN) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $160.67 million during the quarter, compared to the consensus estimate of $174.75 million. Orion Group had a negative net margin of 1.59% and a negative return on equity of 4.14%.

Separately, StockNews.com cut shares of Orion Group from a “buy” rating to a “hold” rating in a research report on Friday.

Orion Group Trading Down 6.7 %

NYSE:ORN opened at $6.92 on Monday. The business’s 50-day moving average price is $7.90 and its two-hundred day moving average price is $6.08. Orion Group has a 1-year low of $2.38 and a 1-year high of $9.84. The firm has a market capitalization of $224.48 million, a price-to-earnings ratio of -19.77, a PEG ratio of 1.47 and a beta of 0.70. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.36.

Insider Buying and Selling

In other Orion Group news, EVP Edward Chipman Earle acquired 8,000 shares of the stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $6.88 per share, for a total transaction of $55,040.00. Following the completion of the acquisition, the executive vice president now directly owns 69,602 shares of the company’s stock, valued at $478,861.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Edward Chipman Earle purchased 8,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $6.88 per share, for a total transaction of $55,040.00. Following the completion of the purchase, the executive vice president now directly owns 69,602 shares in the company, valued at $478,861.76. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Travis J. Boone bought 12,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $7.01 per share, for a total transaction of $84,120.00. Following the completion of the acquisition, the chief executive officer now owns 402,557 shares of the company’s stock, valued at approximately $2,821,924.57. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 22,430 shares of company stock valued at $156,340. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Orion Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AJOVista LLC bought a new stake in shares of Orion Group in the fourth quarter valued at about $51,000. Tower Research Capital LLC TRC grew its stake in shares of Orion Group by 2,851.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,448 shares of the construction company’s stock worth $52,000 after buying an additional 10,094 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Orion Group during the fourth quarter valued at about $82,000. Citigroup Inc. bought a new stake in shares of Orion Group in the third quarter worth $98,000. Finally, Belvedere Trading LLC bought a new stake in shares of Orion Group in the 3rd quarter valued at $112,000. 70.25% of the stock is owned by institutional investors.

About Orion Group

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