Latest Stocks: Ormat Technologies, Inc. (ORA) Expected to Announce Earnings of $0.55 Per Share

Latest Stocks: Ormat Technologies, Inc. (ORA) Expected to Announce Earnings of $0.55 Per Share

Analysts forecast that Ormat Technologies, Inc. (NYSE:ORA) will post $0.55 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Ormat Technologies’ earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.52. Ormat Technologies reported earnings of $0.49 per share during the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The business is expected to announce its next earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that Ormat Technologies will report full year earnings of $2.29 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $2.32. For the next financial year, analysts expect that the company will report earnings of $2.44 per share, with EPS estimates ranging from $2.38 to $2.48. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Ormat Technologies.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Monday, May 8th. The energy company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The business had revenue of $189.90 million for the quarter, compared to the consensus estimate of $177.42 million. Ormat Technologies had a net margin of 13.29% and a return on equity of 9.45%. The company’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Several research analysts recently weighed in on ORA shares. Zacks Investment Research lowered Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. Cowen and Company reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Ormat Technologies in a research report on Wednesday, April 12th. Oppenheimer Holdings Inc. set a $65.00 target price on Ormat Technologies and gave the stock a “buy” rating in a research report on Thursday, May 4th. Barclays PLC increased their target price on Ormat Technologies from $43.00 to $54.00 and gave the stock an “underweight” rating in a research report on Monday, March 6th. Finally, Roth Capital set a $66.00 target price on Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, March 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $63.71.

In other news, Director Robert F. Clarke sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $56.97, for a total transaction of $854,550.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at $427,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.97% of the company’s stock. Several hedge funds have recently made changes to their positions in ORA. Creative Planning increased its stake in shares of Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock valued at $107,000 after buying an additional 572 shares in the last quarter. US Bancorp DE increased its stake in shares of Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock valued at $124,000 after buying an additional 545 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock valued at $130,000 after buying an additional 326 shares in the last quarter. Sei Investments Co. increased its stake in shares of Ormat Technologies by 5.1% in the third quarter. Sei Investments Co. now owns 2,327 shares of the energy company’s stock valued at $113,000 after buying an additional 113 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Ormat Technologies by 89.3% in the first quarter. Quantbot Technologies LP now owns 2,334 shares of the energy company’s stock valued at $133,000 after buying an additional 1,101 shares in the last quarter. Institutional investors own 43.57% of the company’s stock.

In other news, Director Robert F. Clarke sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $56.97, for a total transaction of $854,550.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at $427,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.97% of the company’s stock. Ormat Technologies (NYSE:ORA) traded down 0.749% during midday trading on Wednesday, reaching $56.345. 114,595 shares of the company’s stock traded hands. Ormat Technologies has a one year low of $41.12 and a one year high of $61.49. The stock has a market cap of $2.80 billion, a PE ratio of 28.428 and a beta of 1.18. The stock’s 50 day moving average price is $57.93 and its 200-day moving average price is $54.04.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, May 18th. Ormat Technologies’s dividend payout ratio (DPR) is presently 15.73%. Ormat Technologies Company Profile

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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