Analysts expect Ormat Technologies, Inc. (NYSE:ORA) to announce $0.33 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ormat Technologies’ earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.37. Ormat Technologies posted earnings of $0.31 per share during the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The business is expected to issue its next earnings report on Tuesday, November 5th.
On average, analysts expect that Ormat Technologies will report full year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.74 to $1.80. For the next fiscal year, analysts anticipate that the business will post earnings of $2.19 per share, with EPS estimates ranging from $1.94 to $2.35. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Ormat Technologies.
Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.09. Ormat Technologies had a net margin of 11.98% and a return on equity of 6.07%. The company had revenue of $184.10 million for the quarter, compared to the consensus estimate of $175.60 million. During the same period last year, the firm posted $0.32 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis.
Separately, Roth Capital raised their price target on shares of Ormat Technologies from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 12th.
Shares of Ormat Technologies stock traded up $0.85 during trading hours on Friday, reaching $73.22. The company’s stock had a trading volume of 138,600 shares, compared to its average volume of 171,769. The company’s 50 day simple moving average is $65.21 and its 200 day simple moving average is $59.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.41 and a current ratio of 1.49. Ormat Technologies has a one year low of $49.01 and a one year high of $73.63. The stock has a market cap of $3.64 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 3.76 and a beta of 1.12.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. Ormat Technologies’s payout ratio is currently 21.15%.
In related news, EVP Shlomi Argas sold 12,819 shares of Ormat Technologies stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $68.25, for a total value of $874,896.75. Following the sale, the executive vice president now directly owns 13,153 shares in the company, valued at approximately $897,692.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Granot sold 7,500 shares of Ormat Technologies stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $70.70, for a total transaction of $530,250.00. Following the completion of the sale, the director now owns 8,861 shares in the company, valued at $626,472.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,417 shares of company stock worth $2,340,736. Insiders own 0.81% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Ormat Technologies by 3.0% in the 2nd quarter. BlackRock Inc. now owns 3,385,203 shares of the energy company’s stock valued at $214,589,000 after purchasing an additional 99,904 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ormat Technologies by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,534,566 shares of the energy company’s stock valued at $80,258,000 after purchasing an additional 13,767 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in Ormat Technologies by 3.4% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,222,479 shares of the energy company’s stock valued at $77,976,000 after purchasing an additional 40,367 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Ormat Technologies by 1.5% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,076,959 shares of the energy company’s stock valued at $59,394,000 after purchasing an additional 15,857 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Ormat Technologies by 2.0% in the 2nd quarter. Northern Trust Corp now owns 574,670 shares of the energy company’s stock valued at $36,428,000 after purchasing an additional 11,271 shares during the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.
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