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Orion Marine (ORN) Soars 5.3%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Orion Marine Group (ORN) shares rallied 5.3% in the last trading session to close at $8.80. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 30.6% gain over the past four weeks.

Orion's business benefits from solid project execution and regular contract flow.

This heavy civil marine contractor is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +75%. Revenues are expected to be $172.17 million, up 8.2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Orion Marine, the consensus EPS estimate for the quarter has been revised 71.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ORN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Orion Marine is a member of the Zacks Building Products - Heavy Construction industry. One other stock in the same industry, MasTec (MTZ), finished the last trading session 5% higher at $90.76. MTZ has returned 23.4% over the past month.

MasTec's consensus EPS estimate for the upcoming report has changed -2910% over the past month to -$0.34. Compared to the company's year-ago EPS, this represents a change of +37%. MasTec currently boasts a Zacks Rank of #2 (Buy).

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Orion Group Holdings, Inc. (ORN) : Free Stock Analysis Report

MasTec, Inc. (MTZ) : Free Stock Analysis Report

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Zacks Investment Research