$171.31 Million in Sales Expected for Ormat Technologies, Inc. (NYSE:ORA) This Quarter

Equities research analysts expect Ormat Technologies, Inc. (NYSE:ORA) to announce $171.31 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ormat Technologies’ earnings, with the highest sales estimate coming in at $172.40 million and the lowest estimate coming in at $170.23 million. Ormat Technologies reported sales of $166.48 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Ormat Technologies will report full year sales of $735.20 million for the current financial year, with estimates ranging from $734.10 million to $737.30 million. For the next fiscal year, analysts anticipate that the business will report sales of $809.35 million, with estimates ranging from $794.44 million to $835.90 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Ormat Technologies.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, August 7th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The company had revenue of $184.10 million for the quarter, compared to the consensus estimate of $175.60 million. Ormat Technologies had a net margin of 11.98% and a return on equity of 6.07%. Ormat Technologies’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS.

A number of research firms have weighed in on ORA. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Monday. Roth Capital upped their price objective on shares of Ormat Technologies from $67.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Credit Suisse Group restated a “buy” rating and set a $16.00 price objective on shares of Ormat Technologies in a research report on Thursday, October 17th. UBS Group upped their target price on shares of Ormat Technologies from $59.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $17.00 target price on shares of Ormat Technologies in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $54.00.

In other news, Director Ravit Barniv sold 5,786 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $73.00, for a total transaction of $422,378.00. Following the completion of the sale, the director now owns 6,545 shares of the company’s stock, valued at $477,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Granot sold 7,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $70.70, for a total transaction of $530,250.00. Following the sale, the director now directly owns 8,861 shares of the company’s stock, valued at approximately $626,472.70. The disclosure for this sale can be found here. Insiders have sold 35,712 shares of company stock valued at $2,582,976 in the last ninety days. Insiders own 0.63% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in shares of Ormat Technologies during the second quarter worth $64,000. Public Employees Retirement System of Ohio grew its holdings in shares of Ormat Technologies by 20.3% in the second quarter. Public Employees Retirement System of Ohio now owns 1,383 shares of the energy company’s stock valued at $88,000 after purchasing an additional 233 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Ormat Technologies by 57.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,946 shares of the energy company’s stock valued at $124,000 after purchasing an additional 711 shares during the period. Strs Ohio grew its holdings in shares of Ormat Technologies by 130.0% in the second quarter. Strs Ohio now owns 2,300 shares of the energy company’s stock valued at $145,000 after purchasing an additional 1,300 shares during the period. Finally, Mission Wealth Management LP purchased a new stake in shares of Ormat Technologies in the second quarter valued at about $212,000. 74.93% of the stock is owned by institutional investors and hedge funds.

Shares of ORA stock traded up $0.64 during trading hours on Friday, hitting $77.44. The company’s stock had a trading volume of 22,017 shares, compared to its average volume of 165,026. The company has a 50 day moving average of $73.64 and a 200 day moving average of $65.50. The stock has a market cap of $3.86 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 3.89 and a beta of 1.05. The company has a current ratio of 1.49, a quick ratio of 1.35 and a debt-to-equity ratio of 0.77. Ormat Technologies has a 12-month low of $49.01 and a 12-month high of $77.20.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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