Orion Group (NYSE:ORN) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Orion Group (NYSE:ORN) issued its quarterly earnings results on Tuesday. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03, reports. Orion Group had a return on equity of 3.07% and a net margin of 0.40%. The company had revenue of $256.15 million for the quarter, compared to analyst estimates of $245.98 million.

Orion Group Trading Down 8.8%

Shares of ORN opened at $8.35 on Thursday. The company’s fifty day simple moving average is $9.01 and its 200-day simple moving average is $11.81. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.62. Orion Group has a twelve month low of $8.15 and a twelve month high of $17.40. The company has a market cap of $337.93 million, a P/E ratio of 92.73 and a beta of 1.43.

Insider Transactions at Orion Group

In other news, Director Mary E. Sullivan purchased 3,000 shares of Orion Group stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $9.79 per share, for a total transaction of $29,370.00. Following the transaction, the director owned 277,904 shares in the company, valued at $2,720,680.16. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward Earle acquired 5,000 shares of Orion Group stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $9.81 per share, with a total value of $49,050.00. Following the completion of the acquisition, the executive vice president directly owned 150,042 shares in the company, valued at $1,471,912.02. This trade represents a 3.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 28,000 shares of company stock valued at $270,820 in the last three months. 5.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ORN has been the topic of several analyst reports. Weiss Ratings lowered shares of Orion Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 22nd. Roth Capital set a $15.00 price objective on shares of Orion Group in a report on Thursday, July 30th. Zacks Research downgraded Orion Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. decreased their target price on Orion Group from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Finally, Oppenheimer reduced their price objective on shares of Orion Group from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.75.

About Orion Group

Orion Group Holdings, Inc (NYSE:ORN) is a construction company that provides infrastructure services for public- and private-sector customers in the United States. The company operates through its Marine and Concrete segments, serving markets that require specialized construction capabilities and project management.

Orion’s marine construction business focuses on projects involving ports, waterways and other marine infrastructure. Its services include the construction and repair of piers, docks, bridges, breakwaters and other marine structures, as well as dredging, marine transportation and related site work.