$175.92 Million in Sales Expected for Orion Group Holdings Inc (ORN) This Quarter

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.

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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.

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