Brokers Issue Forecasts for Orion Marine Group Inc.’s Q3 2016 Earnings (ORN)
Orion Marine Group Inc. (NYSE:ORN) – FBR & Co boosted their Q3 2016 earnings per share estimates for Orion Marine Group in a note issued to investors on Thursday. FBR & Co analyst A. Rygiel now expects that the brokerage will earn $0.15 per share for the quarter, up from their previous estimate of $0.13. FBR & Co currently has a “Outperform” rating and a $9.00 target price on the stock. FBR & Co also issued estimates for Orion Marine Group’s Q4 2016 earnings at $0.19 EPS, FY2016 earnings at $0.27 EPS and FY2017 earnings at $0.57 EPS.
Orion Marine Group (NYSE:ORN) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.04. Orion Marine Group had a negative return on equity of 3.52% and a negative net margin of 1.40%. The firm had revenue of $140.30 million for the quarter, compared to analysts’ expectations of $147.21 million. During the same period last year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 63.0% on a year-over-year basis.
ORN has been the subject of a number of other reports. Zacks Investment Research cut Orion Marine Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Imperial Capital boosted their target price on Orion Marine Group from $6.00 to $6.50 and gave the company an “in-line” rating in a research note on Monday, August 8th. DA Davidson boosted their target price on Orion Marine Group from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Canaccord Genuity set a $5.50 target price on Orion Marine Group and gave the company a “hold” rating in a research note on Saturday, August 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $6.25.
Shares of Orion Marine Group (NYSE:ORN) opened at 7.38 on Friday. Orion Marine Group has a 1-year low of $3.25 and a 1-year high of $7.42. The stock’s 50 day moving average price is $6.30 and its 200-day moving average price is $5.62. The stock’s market capitalization is $204.28 million.
Several hedge funds and other institutional investors have recently bought and sold shares of ORN. True Bearing Asset Management LP purchased a new position in Orion Marine Group during the second quarter valued at $150,000. Guggenheim Capital LLC boosted its position in Orion Marine Group by 2.8% in the second quarter. Guggenheim Capital LLC now owns 543,226 shares of the company’s stock valued at $2,885,000 after buying an additional 14,935 shares in the last quarter. Pacific Global Investment Management CO boosted its position in Orion Marine Group by 0.6% in the second quarter. Pacific Global Investment Management CO now owns 481,800 shares of the company’s stock valued at $2,558,000 after buying an additional 3,000 shares in the last quarter. State Street Corp boosted its position in Orion Marine Group by 5.6% in the second quarter. State Street Corp now owns 553,322 shares of the company’s stock valued at $2,938,000 after buying an additional 29,254 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new position in Orion Marine Group during the second quarter valued at $103,000. 87.81% of the stock is owned by institutional investors.
Orion Marine Group Company Profile
Orion Group Holdings, Inc, formerly Orion Marine Group, Inc, is engaged in the 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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