Zacks: Brokerages Expect Ormat Technologies, Inc. (NYSE:ORA) Will Post Earnings of $0.24 Per Share

Wall Street brokerages expect Ormat Technologies, Inc. (NYSE:ORAGet Rating) to report earnings per share of $0.24 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Ormat Technologies’ earnings. The highest EPS estimate is $0.31 and the lowest is $0.16. Ormat Technologies posted earnings of $0.23 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Ormat Technologies will report full-year earnings of $1.27 per share for the current year, with EPS estimates ranging from $1.17 to $1.42. For the next financial year, analysts forecast that the company will report earnings of $1.95 per share, with EPS estimates ranging from $1.73 to $2.18. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ormat Technologies.

Ormat Technologies (NYSE:ORAGet Rating) last released its quarterly earnings data on Monday, May 2nd. The energy company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Ormat Technologies had a return on equity of 3.70% and a net margin of 9.59%. The company had revenue of $183.71 million during the quarter, compared to the consensus estimate of $174.20 million.

A number of analysts have weighed in on ORA shares. TheStreet raised shares of Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, April 7th. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Oppenheimer decreased their target price on shares of Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. Finally, Bank of America downgraded shares of Ormat Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $94.00 to $75.00 in a research report on Wednesday, January 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.25.

In other Ormat Technologies news, Director Stanley Stern sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $80.85, for a total transaction of $606,375.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of ORA. Signaturefd LLC lifted its holdings in shares of Ormat Technologies by 77.6% in the 1st quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock worth $37,000 after purchasing an additional 197 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of Ormat Technologies in the 1st quarter worth $41,000. Concord Wealth Partners lifted its holdings in shares of Ormat Technologies by 286.0% in the 4th quarter. Concord Wealth Partners now owns 660 shares of the energy company’s stock worth $52,000 after purchasing an additional 489 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of Ormat Technologies in the 1st quarter worth $56,000. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Ormat Technologies in the 4th quarter worth $111,000. Institutional investors own 96.42% of the company’s stock.

NYSE:ORA traded up $2.42 on Friday, reaching $81.77. 366,899 shares of the stock traded hands, compared to its average volume of 387,711. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 68.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.46. The company’s 50 day moving average is $79.56 and its 200-day moving average is $76.30. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61. Ormat Technologies has a 1-year low of $60.32 and a 1-year high of $88.52.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, May 13th. Ormat Technologies’s payout ratio is 41.38%.

Ormat Technologies Company Profile (Get Rating)

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.

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