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

Orion Group Holdings, Inc. (NYSE:ORN) – Equities research analysts at B. Riley issued their Q2 2024 earnings per share estimates for Orion Group in a research note issued on Friday, April 26th. B. Riley analyst A. Rygiel forecasts that the construction company will post earnings of $0.01 per share for the quarter. B. Riley currently has a “Buy” rating and a $9.50 price objective 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 issued its quarterly earnings data on Wednesday, April 24th. The construction company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $160.67 million for the quarter, compared to analysts’ expectations of $174.75 million.

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

Orion Group Trading Up 1.1 %

NYSE:ORN opened at $7.42 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.25 and a current ratio of 1.33. Orion Group has a one year low of $2.35 and a one year high of $9.84. The business’s 50-day simple moving average is $7.88 and its 200 day simple moving average is $6.07. The stock has a market cap of $240.72 million, a price-to-earnings ratio of -21.20, a price-to-earnings-growth ratio of 1.56 and a beta of 0.70.

Insider Buying and Selling

In other news, CEO Travis J. Boone acquired 12,000 shares of the 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 completion of the acquisition, the chief executive officer now directly owns 402,557 shares in the company, valued at $2,821,924.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Travis J. Boone acquired 12,000 shares of the 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 completion of the acquisition, the chief executive officer now directly owns 402,557 shares in the company, valued at $2,821,924.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Chipman Earle acquired 8,000 shares of the 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 completion of the acquisition, 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 90 days, insiders have acquired 22,430 shares of company stock worth $156,340. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Orion Group

Institutional investors have recently made changes to their positions in the stock. AJOVista LLC bought a new position in shares of Orion Group during the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC grew its holdings in shares of Orion Group by 2,851.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,448 shares of the construction company’s stock valued at $52,000 after purchasing an additional 10,094 shares during the last quarter. Jump Financial LLC bought a new position in shares of Orion Group during the fourth quarter valued at approximately $82,000. Citigroup Inc. bought a new position in shares of Orion Group during the third quarter valued at approximately $98,000. Finally, Belvedere Trading LLC bought a new position in shares of Orion Group during the third quarter valued at approximately $112,000. 70.25% of the stock is owned by institutional investors.

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.