Orion Marine Group (NYSE:ORN) lowered their guidance for the fourth quarter of 2010 and shares got hammered in response, as well as the stock receiving several downgrades and lowered price targets.
They lowered their full year revenue estimate for 2010 from a range of $360 million - $370 million, to $346 million to $355 million. EBITDA for full year 2011 for the margin goal of the company was slashed from 16% - 18% to 14% - 16%.
Orion closed Tuesday at $11.30, dropping $3.44, or 23.34 percent.
Wednesday, December 22, 2010
Orion Marine Group (NYSE:ORN) Shares Clobbered on Reduced Guidance
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