Orion Group Holdings, Inc. (NYSE:ORN) Forecasted to Earn Q1 2024 Earnings of ($0.18) Per Share

Orion Group Holdings, Inc. (NYSE:ORN) – Analysts at Sidoti Csr dropped their Q1 2024 EPS estimates for Orion Group in a research report issued to clients and investors on Tuesday, March 26th. Sidoti Csr analyst J. Romero now forecasts that the construction company will post earnings per share of ($0.18) for the quarter, down from their prior estimate of ($0.11). The consensus estimate for Orion Group’s current full-year earnings is $0.16 per share. Sidoti Csr also issued estimates for Orion Group’s Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.28 EPS and FY2024 earnings at $0.26 EPS.

Orion Group (NYSE:ORN) last announced its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $201.59 million for the quarter, compared to analysts’ expectations of $191.31 million. Orion Group had a negative net margin of 2.51% and a negative return on equity of 9.14%.

Several other equities research analysts have also recently commented on the stock. StockNews.com cut shares of Orion Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. B. Riley reaffirmed a “buy” rating and set a $9.50 target price (up previously from $6.25) on shares of Orion Group in a report on Thursday, March 14th.

Orion Group Price Performance

Shares of NYSE ORN opened at $8.30 on Thursday. The company’s fifty day moving average is $6.81 and its 200-day moving average is $5.59. Orion Group has a twelve month low of $2.33 and a twelve month high of $9.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.26 and a quick ratio of 1.25.

Insider Buying and Selling

In other news, EVP Edward Chipman Earle bought 8,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $6.88 per share, with a total value of $55,040.00. Following the completion of the purchase, the executive vice president now directly owns 69,602 shares of the company’s stock, valued at $478,861.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Orion Group news, CEO Travis J. Boone acquired 12,000 shares of Orion Group stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $7.01 per share, for a total transaction of $84,120.00. Following the completion of the acquisition, the chief executive officer now directly owns 402,557 shares of the company’s stock, valued at $2,821,924.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward Chipman Earle acquired 8,000 shares of Orion Group stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $6.88 per share, with a total value 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 disclosure for this purchase can be found here. Insiders bought 22,430 shares of company stock valued at $156,340 over the last quarter. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ORN. Ancora Advisors LLC lifted its position in shares of Orion Group by 95.9% during the first quarter. Ancora Advisors LLC now owns 537,673 shares of the construction company’s stock valued at $3,264,000 after purchasing an additional 263,261 shares in the last quarter. State Street Corp grew its stake in Orion Group by 4.6% during the first quarter. State Street Corp now owns 118,178 shares of the construction company’s stock valued at $293,000 after acquiring an additional 5,207 shares in the last quarter. Wellington Management Group LLP grew its stake in Orion Group by 7.4% during the first quarter. Wellington Management Group LLP now owns 590,384 shares of the construction company’s stock valued at $1,464,000 after acquiring an additional 40,786 shares in the last quarter. Jane Street Group LLC purchased a new position in Orion Group in the 1st quarter worth approximately $41,000. Finally, Tower Research Capital LLC TRC grew its stake in Orion Group by 84.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 16,176 shares of the construction company’s stock worth $42,000 after buying an additional 7,397 shares in the last quarter. 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.