Noble Financial Weighs in on Orion Group Holdings, Inc.'s Q3 2024 Earnings (NYSE:ORN)

Orion Group Holdings, Inc. (NYSE:ORN - Free Report) - Noble Financial increased their Q3 2024 earnings estimates for shares of Orion Group in a report released on Monday, April 1st. Noble Financial analyst J. Gomes now anticipates that the construction company will post earnings of $0.13 per share for the quarter, up from their previous estimate of $0.11. The consensus estimate for Orion Group's current full-year earnings is $0.20 per share.

Orion Group (NYSE:ORN - Get Free Report) last released its earnings results on Wednesday, February 28th. The construction company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $201.59 million during 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 brokerages have also recently issued reports on ORN. StockNews.com cut shares of Orion Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 9th. B. Riley reissued a "buy" rating and set a $9.50 price objective (up from $6.25) on shares of Orion Group in a research note on Thursday, March 14th.

Orion Group Trading Up 4.7 %

ORN stock traded up $0.41 during midday trading on Tuesday, hitting $9.17. The stock had a trading volume of 602,749 shares, compared to its average volume of 256,788. Orion Group has a 12-month low of $2.33 and a 12-month high of $9.84. The company's 50-day moving average price is $7.00 and its 200 day moving average price is $5.67. The firm has a market cap of $298.32 million, a PE ratio of -15.91, a price-to-earnings-growth ratio of 1.64 and a beta of 0.70. 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 Orion Group news, EVP Edward Chipman Earle purchased 8,000 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $6.88 per share, with a total value of $55,040.00. Following the transaction, the executive vice president now owns 69,602 shares in the company, valued at $478,861.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Orion Group news, CEO Travis J. Boone purchased 12,000 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $7.01 per share, with a total value of $84,120.00. Following the transaction, the chief executive officer now owns 402,557 shares in the company, valued at $2,821,924.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Chipman Earle purchased 8,000 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $6.88 per share, with a total value of $55,040.00. Following the completion of the transaction, the executive vice president now owns 69,602 shares in the company, valued at approximately $478,861.76. The disclosure for this purchase can be found here. In the last three months, insiders acquired 22,430 shares of company stock valued at $156,340. Company insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Orion Group

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new position in Orion Group in the 4th quarter worth $210,000. Barclays PLC lifted its holdings in Orion Group by 96.1% in the 4th quarter. Barclays PLC now owns 60,855 shares of the construction company's stock worth $300,000 after buying an additional 29,816 shares in the last quarter. G2 Investment Partners Management LLC lifted its holdings in Orion Group by 715.1% in the 4th quarter. G2 Investment Partners Management LLC now owns 481,974 shares of the construction company's stock worth $2,381,000 after buying an additional 422,842 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Orion Group in the 4th quarter worth $146,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Orion Group by 2,851.4% in the 4th 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 in the last quarter. Institutional investors and hedge funds 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.