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Orion Group Holdings (ORN)
Another Project Award Boosts Record Backlog and Reinforces Positive Outlook.
Orion Group Holdings Inc is a US-based company which provides solutions in marine construction, design and specialty services both on and off the water in the continental US, Alaska, Canada, and the Caribbean Basin.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Another large Marine award. Dredging work of $52 million on a crude oil export terminal should begin in 4Q2019 and run into 3Q2020. Dredging will allow Very Large Crude Carriers (VLCCs) to load at South Texas Gateway Terminal project. Design and demo work could expand the scope of the project for ORN and validate the emerging industrial strategy.
- Award should push 2Q2019 backlog into $650 million range, another record. Combined with the large Terminal 5 project in Seattle that should....
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.