Equities analysts forecast that Orion Group Holdings Inc (NYSE:ORN) will post sales of $175.92 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Orion Group’s earnings, with the lowest sales estimate coming in at $170.00 million and the highest estimate coming in at $182.76 million. Orion Group posted sales of $144.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 21.9%. The firm is scheduled to issue its next earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Orion Group will report full-year sales of $175.92 million for the current year, with estimates ranging from $586.34 million to $599.10 million. For the next financial year, analysts forecast that the business will report sales of $653.39 million per share, with estimates ranging from $650.00 million to $655.18 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Orion Group.
A number of research firms have recently weighed in on ORN. Zacks Investment Research raised Orion Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. ValuEngine lowered Orion Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Noble Financial began coverage on Orion Group in a research note on Thursday, January 25th. They set a “buy” rating and a $10.00 price objective for the company. B. Riley reissued a “buy” rating and set a $10.00 price objective on shares of Orion Group in a research note on Monday, December 11th. Finally, Canaccord Genuity raised Orion Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.25.
In related news, insider Mark R. Stauffer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $7.56, for a total value of $151,200.00. Following the completion of the sale, the insider now owns 362,631 shares of the company’s stock, valued at $2,741,490.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its stake in Orion Group by 21.6% in the second quarter. Voya Investment Management LLC now owns 17,899 shares of the construction company’s stock worth $134,000 after acquiring an additional 3,175 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Orion Group by 17.6% in the second quarter. The Manufacturers Life Insurance Company now owns 24,887 shares of the construction company’s stock worth $186,000 after acquiring an additional 3,721 shares during the period. QS Investors LLC lifted its stake in Orion Group by 94.3% in the second quarter. QS Investors LLC now owns 13,626 shares of the construction company’s stock worth $102,000 after acquiring an additional 6,613 shares during the period. Parametric Portfolio Associates LLC lifted its stake in Orion Group by 4.0% in the second quarter. Parametric Portfolio Associates LLC now owns 191,222 shares of the construction company’s stock worth $1,428,000 after acquiring an additional 7,355 shares during the period. Finally, LS Investment Advisors LLC lifted its stake in Orion Group by 40.6% in the third quarter. LS Investment Advisors LLC now owns 25,961 shares of the construction company’s stock worth $170,000 after acquiring an additional 7,490 shares during the period. 91.20% of the stock is owned by institutional investors.
Orion Group (ORN) traded up $0.15 during trading hours on Friday, hitting $6.96. The stock had a trading volume of 40,700 shares, compared to its average volume of 90,645. Orion Group has a 52-week low of $5.17 and a 52-week high of $10.45. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.30.
COPYRIGHT VIOLATION NOTICE: This piece was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/19/175-92-million-in-sales-expected-for-orion-group-holdings-inc-orn-this-quarter-2.html.
Orion Group Company Profile
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in heavy civil construction project management business. The Company specializes in marine construction. It provides a range of heavy civil marine construction services to federal agencies, state and municipal governments, and private commercial and industrial customers.
Get a free copy of the Zacks research report on Orion Group (ORN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Orion Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orion Group and related companies with MarketBeat.com's FREE daily email newsletter.