Roth Capital Comments on Ormat Technologies, Inc.’s Q3 2024 Earnings (NYSE:ORA)

Ormat Technologies, Inc. (NYSE:ORA) – Analysts at Roth Capital dropped their Q3 2024 earnings per share (EPS) estimates for Ormat Technologies in a report issued on Sunday, August 11th. Roth Capital analyst J. Clare now expects that the energy company will post earnings per share of $0.35 for the quarter, down from their previous forecast of $0.37. The consensus estimate for Ormat Technologies’ current full-year earnings is $2.03 per share. Roth Capital also issued estimates for Ormat Technologies’ Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.05 EPS, Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.84 EPS, FY2025 earnings at $2.58 EPS and FY2026 earnings at $2.96 EPS.

Other equities research analysts have also recently issued reports about the company. TD Cowen lifted their price objective on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Roth Mkm reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Ormat Technologies in a research note on Monday. Oppenheimer lifted their price objective on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Barclays dropped their price objective on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.67.

Ormat Technologies Trading Up 1.4 %

Shares of NYSE ORA opened at $73.73 on Wednesday. Ormat Technologies has a twelve month low of $58.73 and a twelve month high of $78.51. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $73.61 and a 200-day simple moving average of $69.30. The stock has a market capitalization of $4.46 billion, a PE ratio of 33.21, a PEG ratio of 3.57 and a beta of 0.51.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share.

Institutional Trading of Ormat Technologies

A number of institutional investors have recently bought and sold shares of ORA. Raymond James & Associates lifted its holdings in Ormat Technologies by 6.8% during the 4th quarter. Raymond James & Associates now owns 11,666 shares of the energy company’s stock worth $884,000 after buying an additional 743 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Ormat Technologies by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,977 shares of the energy company’s stock valued at $380,000 after purchasing an additional 370 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at about $1,144,000. Handelsbanken Fonder AB lifted its holdings in shares of Ormat Technologies by 1.4% in the 4th quarter. Handelsbanken Fonder AB now owns 454,101 shares of the energy company’s stock valued at $34,416,000 after purchasing an additional 6,200 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Ormat Technologies in the 4th quarter valued at about $32,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 686 shares of Ormat Technologies stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the transaction, the director now directly owns 4,832 shares in the company, valued at $354,958.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in 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.