“ORN announced 4Q16 results below our and consensus’ estimates, mostly due to a one-time charge related to the accounting treatment of a dredging contract with significantly differing site conditions than anticipated. Even adjusting for this one- time item, EBIT were below our estimate due to higher-than-expected SG&A costs, which are expected to continue into 2017. Backlog at the end of the year was a record $424M (+21% YOY), which positions ORN for continued growth in 2017; however, we lower our estimates for 2017, despite the record backlog, due to ORN’s continued impact from permitting delays, mostly out of the USACE, and higher SG&A expense assumptions.”,” FBR & Co’s analyst commented.
Other equities analysts also recently issued reports about the company. Canaccord Genuity restated a hold rating and set a $9.00 price target on shares of Orion Group Holdings in a report on Friday, March 10th. Zacks Investment Research downgraded Orion Group Holdings from a buy rating to a hold rating in a report on Thursday, January 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Orion Group Holdings has an average rating of Hold and a consensus price target of $9.30.
Shares of Orion Group Holdings (NYSE:ORN) opened at 8.16 on Tuesday. The company’s market capitalization is $226.55 million. The stock’s 50 day moving average price is $9.67 and its 200 day moving average price is $8.80. Orion Group Holdings has a 12 month low of $4.57 and a 12 month high of $11.11.
Orion Group Holdings (NYSE:ORN) last issued its quarterly earnings results on Thursday, March 9th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Orion Group Holdings had a return on equity of 1.83% and a net margin of 0.70%. The firm earned $144.30 million during the quarter, compared to the consensus estimate of $143.77 million. During the same period last year, the company earned $0.05 earnings per share. The company’s revenue was down 10.9% on a year-over-year basis. On average, analysts forecast that Orion Group Holdings will post $0.32 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in ORN. Russell Investments Group Ltd. acquired a new stake in Orion Group Holdings during the fourth quarter valued at approximately $5,507,000. Dimensional Fund Advisors LP increased its stake in Orion Group Holdings by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,568,388 shares of the company’s stock valued at $15,606,000 after buying an additional 194,336 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Orion Group Holdings during the fourth quarter valued at approximately $1,299,000. Putnam Investments LLC increased its stake in Orion Group Holdings by 25.1% in the fourth quarter. Putnam Investments LLC now owns 530,222 shares of the company’s stock valued at $5,276,000 after buying an additional 106,500 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Orion Group Holdings by 18.4% in the fourth quarter. Renaissance Technologies LLC now owns 660,700 shares of the company’s stock valued at $6,574,000 after buying an additional 102,600 shares during the last quarter. Institutional investors own 86.75% of the company’s stock.
About Orion Group Holdings
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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