Orion Marine Group, Inc.
) received a contract from a private Caribbean customer to design
and build a new dock facility. The contract is valued at $19
million and the work on the same is expected to begin in the
first quarter of 2014. However, the onsite construction work is
expected to begin in the second quarter and is expected to last
for 14 months.
Orion had received a similar contract worth $20 million from a
private client in the Gulf Coast region. The scope of the
contract primarily involved constructing and dredging a new ship
On Dec 27, the company received three contracts to demolish
and construct a fuel pier, a vessel bulkhead and a cargo dock.
The three deals have a combined value of approximately $45
Orion - a leading heavy civil marine contractor - is believed
to have one of the strongest dredging equipment in the industry.
The company is one of the leading providers of a broad range of
marine construction and contracting services. Some of the
company's main customers include the U.S. Marine Transportation
System and the cruise industry.
However, of late, Orion's share prices witnessed a downturn
after it reported third-quarter earnings on Oct 31. The company's
return since then to date has also been a disappointing -2.78%.
Nevertheless, in the third quarter, the company reported net loss
per share of 3 cents, narrower than the Zacks Consensus Estimate
of a loss of 7 cents.
Orion currently has a Zacks Rank #3 (Hold). Some better-ranked
stocks in the marine and heavy construction and diversified
operations sector include
Chicago Bridge & Iron
Tyco International Ltd
). All three stocks carry a Zacks Rank #2 (Buy).
CHICAGO BRIDGE (CBI): Free Stock Analysis
ITT CORP (ITT): Free Stock Analysis Report
ORION MARINE GP (ORN): Free Stock Analysis
TYCO INTL LTD (TYC): Free Stock Analysis
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