Noble Financial Analysts Boost Earnings Estimates for Orion Group Holdings, Inc. (NYSE:ORN)

Orion Group Holdings, Inc. (NYSE:ORN - Free Report) - Equities research analysts at Noble Financial increased their Q2 2024 earnings per share estimates for Orion Group in a research note issued to investors on Tuesday, April 30th. Noble Financial analyst J. Gomes now forecasts that the construction company will earn ($0.01) per share for the quarter, up from their prior estimate of ($0.05). The consensus estimate for Orion Group's current full-year earnings is $0.23 per share. Noble Financial also issued estimates for Orion Group's Q3 2024 earnings at $0.11 EPS, FY2024 earnings at $0.32 EPS and FY2025 earnings at $0.98 EPS.

Several other research firms have also commented on ORN. B. Riley reaffirmed a "buy" rating and set a $9.50 target price (up from $6.25) on shares of Orion Group in a report on Thursday, March 14th. StockNews.com cut shares of Orion Group from a "buy" rating to a "hold" rating in a report on Friday, April 26th.

Orion Group Stock Performance

ORN traded down $0.11 during midday trading on Friday, hitting $7.48. 262,765 shares of the company were exchanged, compared to its average volume of 286,811. The company's 50 day simple moving average is $7.96 and its 200 day simple moving average is $6.11. The firm has a market capitalization of $245.76 million, a price-to-earnings ratio of -21.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.77. Orion Group has a 1-year low of $2.38 and a 1-year high of $9.84. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.36.

Orion Group (NYSE:ORN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $160.67 million for the quarter, compared to analyst estimates of $174.75 million. Orion Group had a negative net margin of 1.59% and a negative return on equity of 4.14%.

Insider Activity

In other news, CFO Gordon Scott Thanisch acquired 4,000 shares of Orion Group stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average cost of $7.12 per share, with a total value of $28,480.00. Following the purchase, the chief financial officer now owns 167,811 shares in the company, valued at $1,194,814.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Edward Chipman Earle acquired 8,000 shares of Orion Group stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $6.88 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gordon Scott Thanisch bought 4,000 shares of the business's stock in a transaction on Tuesday, April 30th. The stock was bought at an average cost of $7.12 per share, with a total value of $28,480.00. Following the completion of the purchase, the chief financial officer now directly owns 167,811 shares in the company, valued at $1,194,814.32. The disclosure for this purchase can be found here. Insiders have bought a total of 30,990 shares of company stock worth $217,335 over the last quarter. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orion Group

Hedge funds have recently modified their holdings of the company. Belvedere Trading LLC acquired a new stake in shares of Orion Group during the 3rd quarter worth approximately $112,000. Acuitas Investments LLC acquired a new stake in Orion Group during the third quarter worth $1,864,000. Assenagon Asset Management S.A. purchased a new stake in Orion Group in the third quarter valued at $125,000. AMH Equity Ltd lifted its stake in shares of Orion Group by 518.8% in the 3rd quarter. AMH Equity Ltd now owns 1,856,399 shares of the construction company's stock valued at $9,950,000 after purchasing an additional 1,556,399 shares during the last quarter. Finally, Barclays PLC purchased a new position in shares of Orion Group during the 3rd quarter worth $166,000. Hedge funds and other 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.