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

Equities research analysts predict that Ormat Technologies, Inc. (NYSE:ORA) will announce earnings per share of $0.54 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ormat Technologies’ earnings. The highest EPS estimate is $0.63 and the lowest is $0.42. Ormat Technologies reported earnings of $1.29 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 58.1%. The company is expected to report its next earnings results after the market closes on Tuesday, February 26th.

On average, 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 report earnings of $2.22 per share, with EPS estimates ranging from $2.04 to $2.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Ormat Technologies.

A number of brokerages have issued reports on ORA. Zacks Investment Research cut shares of Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. ValuEngine cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Ormat Technologies has an average rating of “Hold” and an average target price of $64.80.

ORA stock traded down $0.07 during midday trading on Friday, reaching $56.93. The company’s stock had a trading volume of 1,989 shares, compared to its average volume of 119,014. Ormat Technologies has a 52 week low of $45.79 and a 52 week high of $65.49. The stock has a market cap of $2.89 billion, a PE ratio of 19.03, a PEG ratio of 2.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 1.06.

In other news, Director David Granot sold 759 shares of Ormat Technologies stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $54.00, for a total value of $40,986.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Bridge Creek Capital Management LLC boosted its holdings in shares of Ormat Technologies by 0.5% during the 4th quarter. Bridge Creek Capital Management LLC now owns 39,758 shares of the energy company’s stock worth $2,079,000 after buying an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ormat Technologies by 15.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after purchasing an additional 506 shares during the period. State Board of Administration of Florida Retirement System increased its position in Ormat Technologies by 3.5% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 17,818 shares of the energy company’s stock worth $932,000 after purchasing an additional 604 shares in the last quarter. Clean Yield Group acquired a new position in Ormat Technologies during the 4th quarter worth approximately $51,000. Finally, Strs Ohio acquired a new position in Ormat Technologies during the 4th quarter worth approximately $52,000. 74.82% of the stock is owned by institutional investors and hedge funds.

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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