Noble Financial Weighs in on Orion Group Holdings, Inc.’s Q2 2024 Earnings (NYSE:ORN)

Orion Group Holdings, Inc. (NYSE:ORN) – Equities researchers at Noble Financial increased their Q2 2024 earnings per share estimates for Orion Group in a research report issued on Tuesday, April 30th. Noble Financial analyst J. Gomes now anticipates that the construction company will post earnings of ($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.

A number of other research analysts also recently weighed in on ORN. B. Riley reaffirmed a “buy” rating and set a $9.50 price target (up from $6.25) on shares of Orion Group in a research note on Thursday, March 14th. StockNews.com downgraded Orion Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

Orion Group Price Performance

Shares of NYSE ORN opened at $7.48 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $7.96 and its 200-day moving average price is $6.11. The firm has a market capitalization of $245.76 million, a P/E ratio of -21.37, a P/E/G 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.

Orion Group (NYSE:ORN) last released its earnings results on Wednesday, April 24th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $160.67 million for the quarter, compared to the consensus estimate of $174.75 million. Orion Group had a negative net margin of 1.59% and a negative return on equity of 4.14%.

Insider Buying and Selling at Orion Group

In other news, CEO Travis J. Boone bought 12,000 shares of Orion Group stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $7.01 per share, for a total transaction of $84,120.00. Following the purchase, the chief executive officer now directly owns 402,557 shares in the company, valued at approximately $2,821,924.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Orion Group news, CEO Travis J. Boone bought 12,000 shares of Orion Group stock in a transaction dated Monday, March 4th. The stock was bought 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 approximately $2,821,924.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gordon Scott Thanisch purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average price of $7.12 per share, for a total transaction of $28,480.00. Following the completion of the acquisition, the chief financial officer now directly owns 167,811 shares of the company’s stock, valued at approximately $1,194,814.32. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 30,990 shares of company stock worth $217,335. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Orion Group

Several institutional investors have recently added to or reduced their stakes in ORN. AJOVista LLC purchased a new position in Orion Group in the fourth quarter valued at about $51,000. Tower Research Capital LLC TRC lifted its stake in Orion Group by 2,851.4% in 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 Orion Group during the fourth quarter valued at $82,000. Citigroup Inc. purchased a new stake in Orion Group in the third quarter worth $98,000. Finally, Belvedere Trading LLC purchased a new stake in Orion Group in the third quarter worth $112,000. 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.