Chek the Channels
Monday, March 2, 2020
Orion Group Holdings (ORN)
Set Up for Positive Year Drives Higher Price Target
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.
A solid end to a transformational year. 4Q2019 gross profit of $19.1 million and EBITDA of $11.0 million beat our estimates of $15.2 million and $8.2 million, respectively. High backlog, improving execution and ISG restructuring create tailwinds into 2020.
YE2019 backlog moderated to $572 million, as expected, but still up 30% over YE2018 and industry fundamentals remain positive. Backlog is $341 million in Marine and $232 million in...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the 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.