B. Riley Weighs in on Orion Group Holdings, Inc.’s Q2 2024 Earnings (NYSE:ORN)

Orion Group Holdings, Inc. (NYSE:ORN) – Equities researchers at B. Riley issued their Q2 2024 earnings estimates for shares of Orion Group in a research report issued on Friday, April 26th. B. Riley analyst A. Rygiel forecasts that the construction company will earn $0.01 per share for the quarter. B. Riley currently has a “Buy” rating and a $9.50 target price 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 released its earnings results on Wednesday, April 24th. The construction company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. Orion Group had a negative return on equity of 4.14% and a negative net margin of 1.59%. The firm had revenue of $160.67 million during the quarter, compared to analysts’ expectations of $174.75 million.

Separately, StockNews.com downgraded Orion Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.

Orion Group Price Performance

Shares of ORN stock opened at $7.11 on Monday. The business has a fifty day simple moving average of $7.90 and a 200 day simple moving average of $6.08. The company has a market cap of $230.65 million, a P/E ratio of -20.31, a P/E/G ratio of 1.47 and a beta of 0.70. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. Orion Group has a twelve month low of $2.38 and a twelve month high of $9.84.

Insider Activity

In other Orion Group 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 transaction, the executive vice president now owns 69,602 shares in the company, valued at approximately $478,861.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Gordon Scott Thanisch acquired 4,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was bought at an average cost of $7.12 per share, for a total transaction of $28,480.00. Following the completion of the transaction, the chief financial officer now directly owns 167,811 shares of the company’s stock, valued at $1,194,814.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Chipman Earle acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was bought 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 $478,861.76. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 29,590 shares of company stock valued at $206,905. 7.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORN. AJOVista LLC bought a new stake in shares of Orion Group in the 4th quarter valued at $51,000. Tower Research Capital LLC TRC lifted its holdings in Orion Group by 2,851.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,448 shares of the construction company’s stock valued at $52,000 after buying an additional 10,094 shares during the period. Jump Financial LLC bought a new stake in Orion Group during the fourth quarter valued at $82,000. Citigroup Inc. acquired a new stake in Orion Group during the 3rd quarter worth about $98,000. Finally, Belvedere Trading LLC acquired a new stake in Orion Group during the 3rd quarter worth about $112,000. Institutional investors own 70.25% of the company’s stock.

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.