Zacks: Analysts Anticipate Ormat Technologies, Inc. (ORA) to Post $0.54 EPS

Brokerages expect Ormat Technologies, Inc. (NYSE:ORA) to post earnings per share (EPS) of $0.54 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ormat Technologies’ earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.42. Ormat Technologies reported earnings per share of $1.29 during the same quarter last year, which would suggest a negative year-over-year growth rate of 58.1%. The firm is expected to announce its next earnings report on Friday, March 15th.

According to Zacks, analysts expect that Ormat Technologies will report full-year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $1.99 to $2.19. For the next year, analysts expect that the company will post earnings of $2.22 per share, with EPS estimates ranging from $2.04 to $2.41. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Ormat Technologies.

Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, November 6th. The energy company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The firm had revenue of $166.50 million during the quarter, compared to analyst estimates of $172.97 million. Ormat Technologies had a return on equity of 8.86% and a net margin of 17.39%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share.

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $64.00 to $60.00 in a research report on Thursday, August 9th. ValuEngine upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. TheStreet downgraded Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.80.

In other Ormat Technologies news, EVP Bob Sullivan sold 20,329 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $56.94, for a total value of $1,157,533.26. Following the transaction, the executive vice president now owns 23,329 shares of the company’s stock, valued at $1,328,353.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Granot sold 759 shares of the company’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $54.00, for a total value of $40,986.00. The disclosure for this sale can be found here. Insiders sold 21,550 shares of company stock worth $1,222,541 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ORA. Royal Bank of Canada increased its holdings in shares of Ormat Technologies by 103.6% in the first quarter. Royal Bank of Canada now owns 5,445 shares of the energy company’s stock valued at $307,000 after buying an additional 2,771 shares in the last quarter. Principal Financial Group Inc. increased its holdings 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 valued at $950,000 after buying an additional 976 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Ormat Technologies by 37.7% in the second quarter. Xact Kapitalforvaltning AB now owns 6,944 shares of the energy company’s stock valued at $369,000 after buying an additional 1,900 shares in the last quarter. Bank of Montreal Can raised its stake in Ormat Technologies by 36.6% during the 2nd quarter. Bank of Montreal Can now owns 7,668 shares of the energy company’s stock valued at $408,000 after purchasing an additional 2,055 shares during the period. Finally, Personal Capital Advisors Corp raised its stake in Ormat Technologies by 16.2% during the 2nd quarter. Personal Capital Advisors Corp now owns 103,728 shares of the energy company’s stock valued at $5,517,000 after purchasing an additional 14,488 shares during the period. 74.77% of the stock is currently owned by institutional investors.

ORA traded down $1.62 during trading on Friday, reaching $54.07. The stock had a trading volume of 401,755 shares, compared to its average volume of 225,248. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 3.04 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.06 and a quick ratio of 0.97. Ormat Technologies has a 1-year low of $45.79 and a 1-year high of $70.68.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 20th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.74%. Ormat Technologies’s dividend payout ratio is currently 13.38%.

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.

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