Wall Street analysts expect Ormat Technologies, Inc. (NYSE:ORA) to report $0.49 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for Ormat Technologies’ earnings. The lowest EPS estimate is $0.39 and the highest is $0.58. Ormat Technologies reported earnings of $0.58 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.5%. The business is expected to report its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Ormat Technologies will report full-year earnings of $1.88 per share for the current financial year, with EPS estimates ranging from $1.71 to $2.04. For the next fiscal year, analysts expect that the firm will report earnings of $2.37 per share, with EPS estimates ranging from $2.27 to $2.57. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Ormat Technologies.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Monday, May 7th. The energy company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.09). Ormat Technologies had a net margin of 24.00% and a return on equity of 11.11%. The business had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $176.72 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis.
A number of research firms recently weighed in on ORA. Zacks Investment Research lowered shares of Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, April 28th. Oppenheimer reiterated a “market perform” rating on shares of Ormat Technologies in a research note on Friday, April 6th. They noted that the move was a valuation call. Cowen set a $67.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Thursday, March 1st. Roth Capital reduced their price target on shares of Ormat Technologies from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, March 2nd. Finally, ValuEngine lowered shares of Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Ormat Technologies presently has a consensus rating of “Hold” and a consensus target price of $69.17.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orix Corp purchased a new position in shares of Ormat Technologies during the 4th quarter valued at $702,829,000. US Bancorp DE grew its position in shares of Ormat Technologies by 106.4% during the 4th quarter. US Bancorp DE now owns 11,344 shares of the energy company’s stock valued at $727,000 after purchasing an additional 5,847 shares in the last quarter. Cortina Asset Management LLC grew its position in shares of Ormat Technologies by 0.6% during the 4th quarter. Cortina Asset Management LLC now owns 133,718 shares of the energy company’s stock valued at $8,553,000 after purchasing an additional 846 shares in the last quarter. Swiss National Bank grew its position in Ormat Technologies by 2.1% in the fourth quarter. Swiss National Bank now owns 63,834 shares of the energy company’s stock worth $4,083,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Delek Group Ltd. purchased a new position in Ormat Technologies in the fourth quarter worth $41,008,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.
Ormat Technologies stock traded up $0.13 during mid-day trading on Friday, reaching $53.18. The company’s stock had a trading volume of 354,481 shares, compared to its average volume of 249,515. Ormat Technologies has a 12-month low of $50.43 and a 12-month high of $70.68. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.39 and a beta of 1.32. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Monday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. Ormat Technologies’s dividend payout ratio (DPR) 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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