Orion Group (NYSE:ORN) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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

Orion Group Stock Performance

Shares of ORN stock traded up $0.08 during trading on Friday, reaching $7.42. The company’s stock had a trading volume of 336,102 shares, compared to its average volume of 382,794. The company has a current ratio of 1.33, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36. Orion Group has a 1-year low of $2.35 and a 1-year high of $9.84. The stock’s 50-day moving average price is $7.88 and its 200 day moving average price is $6.06.

Insiders Place Their Bets

In other news, CEO Travis J. Boone purchased 12,000 shares of the stock in a transaction on Monday, March 4th. The stock was bought at an average price of $7.01 per share, for a total transaction of $84,120.00. Following the acquisition, the chief executive officer now directly owns 402,557 shares of the company’s stock, valued at approximately $2,821,924.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Edward Chipman Earle acquired 8,000 shares of Orion Group stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $6.88 per share, for a total transaction of $55,040.00. Following the transaction, the executive vice president now owns 69,602 shares of the company’s stock, valued at $478,861.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Travis J. Boone acquired 12,000 shares of Orion Group stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $7.01 per share, with a total value of $84,120.00. Following the transaction, the chief executive officer now directly owns 402,557 shares in the company, valued at approximately $2,821,924.57. The disclosure for this purchase can be found here. Insiders bought 22,430 shares of company stock worth $156,340 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Orion Group

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its position in shares of Orion Group by 21.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 28,332 shares of the construction company’s stock worth $140,000 after buying an additional 5,092 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Orion Group by 2,851.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,448 shares of the construction company’s stock worth $52,000 after purchasing an additional 10,094 shares during the period. AJOVista LLC acquired a new stake in Orion Group in the 4th quarter valued at about $51,000. Jump Financial LLC purchased a new position in Orion Group in the 4th quarter valued at about $82,000. Finally, Citigroup Inc. purchased a new position in Orion Group in the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ORN. StockNews.com downgraded shares of Orion Group from a “buy” rating to a “hold” rating in a research note on Friday. B. Riley reissued a “buy” rating and issued a $9.50 price target (up from $6.25) on shares of Orion Group in a research note on Thursday, March 14th.

Orion Group Company Profile

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.