Q1 2024 Earnings Forecast for Orion Group Holdings, Inc. Issued By Sidoti Csr (NYSE:ORN)

Orion Group Holdings, Inc. (NYSE:ORN) – Investment analysts at Sidoti Csr lowered their Q1 2024 earnings per share estimates for shares of Orion Group in a research report issued to clients and investors on Tuesday, March 26th. Sidoti Csr analyst J. Romero now expects that the construction company will post earnings of ($0.18) per share for the quarter, down from their prior forecast 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 issued its earnings results on Wednesday, February 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Orion Group had a negative return on equity of 9.14% and a negative net margin of 2.51%. The business had revenue of $201.59 million for the quarter, compared to analysts’ expectations of $191.31 million.

Other research analysts also recently issued research reports about the company. B. Riley reiterated a “buy” rating and set a $9.50 price target (up previously from $6.25) on shares of Orion Group in a report on Thursday, March 14th. StockNews.com downgraded Orion Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 9th.

Orion Group Trading Down 2.6 %

Shares of ORN stock opened at $8.30 on Thursday. Orion Group has a 1-year low of $2.33 and a 1-year high of $9.84. The company has a current ratio of 1.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $6.81 and its 200-day simple moving average is $5.59.

Insider Activity at Orion Group

In related news, CEO Travis J. Boone purchased 12,000 shares of Orion Group stock in a transaction on Monday, March 4th. The stock was bought at an average price of $7.01 per share, with a total value of $84,120.00. Following the completion of the transaction, the chief executive officer now directly owns 402,557 shares of the company’s stock, valued at $2,821,924.57. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Orion Group news, EVP Edward Chipman Earle acquired 8,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired 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 owns 69,602 shares of the company’s stock, valued at approximately $478,861.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Travis J. Boone acquired 12,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $7.01 per share, for a total transaction of $84,120.00. Following the completion of the purchase, the chief executive officer now directly 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. Over the last 90 days, insiders bought 22,430 shares of company stock valued at $156,340. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Orion Group

A number of institutional investors have recently made changes to their positions in ORN. Rockefeller Capital Management L.P. bought a new position in shares of Orion Group in the fourth quarter worth about $28,000. UBS Group AG increased its stake in shares of Orion Group by 194.6% in the third quarter. UBS Group AG now owns 6,508 shares of the construction company’s stock worth $35,000 after purchasing an additional 4,299 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Orion Group in the third quarter worth about $36,000. Jane Street Group LLC bought a new position in shares of Orion Group in the first quarter worth about $41,000. Finally, Tower Research Capital LLC TRC increased its stake in Orion Group by 84.3% during the third quarter. Tower Research Capital LLC TRC now owns 16,176 shares of the construction company’s stock valued at $42,000 after acquiring an additional 7,397 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Orion Group Company Profile

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.