Movers and SHAKERS
Wednesday, January 22, 2020
Orion Group Holdings (ORN)
New Awards of $18 million Push YTD Awards to $40 million.
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.
Added concrete awards of $18 million helps 2020 visibility. Total concrete awards total $40 million so far in January. Three structural construction in Houston totaling $18 million were awarded. Combined with earlier awards totaling $22 million, about $40 million of work has been awarded so far this year. The work helps near-term visibility in Construction since it begins this quarter with completion in 4Q2020.
Potential good news coming in Marine. Low bidder on Port Mansfield work, but depends on USACE since bid was 27% above estimate. On January 14th, bids on dredging of the Port Mansfield, Texas channel (W912HY19B0015) were opened and ORN's total bid of $15.96 million was the low bid. The bid is ~27% above the USACE estimate so not yet certain whether or...
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