Wall Street analysts expect Ormat Technologies, Inc. (NYSE:ORA) to report $0.46 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ormat Technologies’ earnings. The highest EPS estimate is $0.61 and the lowest is $0.32. Ormat Technologies posted earnings per share of $0.42 in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The business is expected to report its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Ormat Technologies will report full year earnings of $2.74 per share for the current financial year, with EPS estimates ranging from $2.50 to $3.14. For the next financial year, analysts forecast that the business will report earnings of $2.33 per share, with EPS estimates ranging from $2.20 to $2.57. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Ormat Technologies.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, August 7th. The energy company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.17). The firm had revenue of $178.30 million for the quarter, compared to analyst estimates of $176.06 million. Ormat Technologies had a return on equity of 9.60% and a net margin of 18.88%.
A number of analysts have recently issued reports on the stock. TheStreet downgraded shares of Ormat Technologies from a “b-” rating to a “c+” rating in a report on Thursday. JPMorgan Chase & Co. upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $64.00 to $60.00 in a report on Thursday. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, July 18th. Guggenheim downgraded shares of Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Wednesday, June 13th. Finally, Roth Capital set a $67.00 price target on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Sunday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Ormat Technologies presently has an average rating of “Hold” and a consensus price target of $65.67.
Shares of Ormat Technologies traded down $1.84, reaching $51.74, during midday trading on Tuesday, according to MarketBeat. 151,901 shares of the stock were exchanged, compared to its average volume of 195,508. The company has a market capitalization of $2.71 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.47 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.16 and a quick ratio of 1.47. Ormat Technologies has a twelve month low of $45.79 and a twelve month high of $70.68.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 29th. Investors of record on Tuesday, August 21st will be issued a $0.10 dividend. The ex-dividend date is Monday, August 20th. This represents a $0.40 annualized dividend and a yield of 0.77%. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.38%.
In related news, VP Erez Klein sold 4,120 shares of Ormat Technologies stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $54.50, for a total value of $224,540.00. Following the completion of the sale, the vice president now owns 4,120 shares in the company, valued at approximately $224,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of Ormat Technologies by 6.1% in the first quarter. Principal Financial Group Inc. now owns 16,849 shares of the energy company’s stock worth $950,000 after acquiring an additional 976 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Ormat Technologies by 37.1% in the first quarter. SG Americas Securities LLC now owns 3,946 shares of the energy company’s stock worth $222,000 after acquiring an additional 1,068 shares in the last quarter. Penn Capital Management Co. Inc. grew its stake in shares of Ormat Technologies by 2.7% in the second quarter. Penn Capital Management Co. Inc. now owns 44,562 shares of the energy company’s stock worth $2,463,000 after acquiring an additional 1,159 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Ormat Technologies by 3.3% in the second quarter. Rhumbline Advisers now owns 41,048 shares of the energy company’s stock worth $2,183,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Ormat Technologies by 2.3% in the first quarter. Swiss National Bank now owns 65,334 shares of the energy company’s stock worth $3,684,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 70.60% of the company’s stock.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
Featured Article: Penny Stocks
Get a free copy of the Zacks research report on Ormat Technologies (ORA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ormat Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies and related companies with MarketBeat.com's FREE daily email newsletter.