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Thursday September 19, 2019
Orion Group Holdings (ORN)
Added Construction Awards Bolster Robust 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 full report for price target, fundamental analysis and rating.
- Three added construction awards are positive. Two light commercial projects in Houston totaling $22 million will begin in 3Q2019 and run about eight months. Another $7 million structural project in Dallas/Fort Worth will also begin in 3Q2019 and run about 11 months.
- Added awards on the horizon, including a large project in Cayman Islands. About $1.3 billion of bids remain outstanding so additional awards, including a…
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