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Wednesday, March 18, 2020
Orion Group Holdings (ORN)
New Marine Awards Support Current Outlook.
Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Two Marine jobs awarded for total of $24 million. Energy infrastructure related work along the Gulf Coast begins shortly and should finish by year-end 2020. Positive sign given the sharp drop in crude oil prices.
New work moves total announced YTD 2020 awards to $111 million. Marine awards total $71 million and Concrete awards total $40 million. Additional awards seem likely since other low bids pending awards from…
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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