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Strength Seen in Orion Marine (ORN): Can Its 5.4% Jump Turn into More Strength?
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Orion Marine Group (ORN - Free Report) shares soared 5.4% in the last trading session to close at $5.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.8% gain over the past four weeks.
The upside can be attributable to continued focus on disciplined bidding and strong project delivery.
This heavy civil marine contractor is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -150%. Revenues are expected to be $191.06 million, up 4.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Orion Marine, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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.
Orion Marine belongs to the Zacks Building Products - Heavy Construction industry. Another stock from the same industry, Primoris Services (PRIM - Free Report) , closed the last trading session 0.7% lower at $32.80. Over the past month, PRIM has returned -2.6%.
Primoris Services' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.89. Compared to the company's year-ago EPS, this represents a change of -20.5%. Primoris Services currently boasts a Zacks Rank of #2 (Buy).
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Strength Seen in Orion Marine (ORN): Can Its 5.4% Jump Turn into More Strength?
Orion Marine Group (ORN - Free Report) shares soared 5.4% in the last trading session to close at $5.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.8% gain over the past four weeks.
The upside can be attributable to continued focus on disciplined bidding and strong project delivery.
This heavy civil marine contractor is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -150%. Revenues are expected to be $191.06 million, up 4.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Orion Marine, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 belongs to the Zacks Building Products - Heavy Construction industry. Another stock from the same industry, Primoris Services (PRIM - Free Report) , closed the last trading session 0.7% lower at $32.80. Over the past month, PRIM has returned -2.6%.
Primoris Services' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.89. Compared to the company's year-ago EPS, this represents a change of -20.5%. Primoris Services currently boasts a Zacks Rank of #2 (Buy).