Brokerages Expect Ormat Technologies, Inc. (ORA) Will Announce Earnings of $0.49 Per Share

Equities research analysts expect Ormat Technologies, Inc. (NYSE:ORA) to report $0.49 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have provided estimates for Ormat Technologies’ earnings. The lowest EPS estimate is $0.44 and the highest is $0.52. Ormat Technologies reported earnings of $0.56 per share during the same quarter last year, which would suggest a negative year over year growth rate of 12.5%. The business is expected to report its next earnings results on Monday, November 6th.

On average, analysts expect that Ormat Technologies will report full-year earnings of $2.29 per share for the current financial year, with EPS estimates ranging from $2.23 to $2.35. For the next financial year, analysts forecast that the firm will post earnings of $2.46 per share, with EPS estimates ranging from $2.38 to $2.51. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Ormat Technologies.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $179.36 million during the quarter, compared to analysts’ expectations of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share.

A number of analysts have recently issued reports on ORA shares. Cowen and Company set a $67.00 price target on shares of Ormat Technologies and gave the company a “buy” rating in a report on Friday, August 18th. TheStreet cut shares of Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th. J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. BidaskClub upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, Barclays PLC upgraded shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $54.00 to $59.00 in a research note on Friday, May 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ormat Technologies has an average rating of “Buy” and a consensus price target of $65.38.

In related news, VP Shimon Hatzir sold 3,074 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $61.20, for a total value of $188,128.80. Following the sale, the vice president now owns 3,074 shares in the company, valued at $188,128.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gillon Beck sold 37,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total value of $2,137,500.00. The disclosure for this sale can be found here. Insiders sold 11,044,457 shares of company stock valued at $629,558,861 over the last quarter. 22.97% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Ormat Technologies by 6,068.3% in the 1st quarter. BlackRock Inc. now owns 2,473,872 shares of the energy company’s stock worth $141,210,000 after purchasing an additional 2,433,766 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Ormat Technologies by 24.3% during the 1st quarter. Renaissance Technologies LLC now owns 921,157 shares of the energy company’s stock worth $52,580,000 after buying an additional 179,900 shares during the period. Vanguard Group Inc. raised its stake in shares of Ormat Technologies by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 3,223,631 shares of the energy company’s stock worth $184,006,000 after buying an additional 177,288 shares during the period. FMR LLC acquired a new position in shares of Ormat Technologies during the 1st quarter worth approximately $8,562,000. Finally, AHL Partners LLP acquired a new position in shares of Ormat Technologies during the 2nd quarter worth approximately $8,370,000. Hedge funds and other institutional investors own 46.42% of the company’s stock.

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Ormat Technologies (NYSE ORA) traded up 0.54% on Thursday, hitting $57.50. 211,758 shares of the company were exchanged. Ormat Technologies has a 52 week low of $45.30 and a 52 week high of $61.49. The stock has a market capitalization of $2.87 billion, a P/E ratio of 26.23 and a beta of 1.20. The company has a 50 day moving average price of $57.43 and a 200-day moving average price of $57.97.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. Ormat Technologies’s dividend payout ratio is presently 14.61%.

About Ormat Technologies

Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.

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Earnings History and Estimates for Ormat Technologies (NYSE:ORA)

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