Media stories about Ormat Technologies (NYSE:ORA) have trended somewhat positive this week, Alpha One Sentiment reports. Alpha One, a division of Accern, ranks the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ormat Technologies earned a coverage optimism score of 0.12 on Alpha One’s scale. Alpha One also gave media headlines about the energy company an impact score of 55 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the company’s share price in the near future.
These are some of the media headlines that may have effected Alpha One’s rankings:
- Zacks: Brokerages Expect Ormat Technologies, Inc. (ORA) Will Announce Quarterly Sales of $169.72 Million (americanbankingnews.com)
- Should you purge Ormat Technologies Inc. (NYSE:ORA) from your holding? – FinancialsTrend (financialstrend.com)
- Insider Selling: Ormat Technologies, Inc. (ORA) VP Sells 3,074 Shares of Stock (americanbankingnews.com)
- Ormat Technologies, Inc. is trading above its 50 day moving average : ORA-US : June 15, 2017 (finance.yahoo.com)
- Ormat secures agreement for 150 MW of geothermal capacity (nnbw.com)
A number of research firms recently commented on ORA. Roth Capital set a $66.00 price target on Ormat Technologies and gave the company a “buy” rating in a research report on Monday, March 6th. BidaskClub raised Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. J P Morgan Chase & Co raised Ormat Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $65.00 to $71.00 in a research report on Wednesday, June 7th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $65.00 price target (up from $56.00) on shares of Ormat Technologies in a research report on Wednesday, March 1st. Finally, Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “strong-buy” rating and set a $67.00 price target for the company in a research report on Saturday, March 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $65.25.
Ormat Technologies (NYSE ORA) traded down 0.16% during midday trading on Friday, reaching $60.73. The company had a trading volume of 328,964 shares. Ormat Technologies has a 12-month low of $41.12 and a 12-month high of $61.49. The stock has a market capitalization of $3.02 billion, a PE ratio of 30.64 and a beta of 1.19. The company has a 50-day moving average of $58.76 and a 200-day moving average of $55.83.
Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, May 8th. The energy company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Ormat Technologies had a return on equity of 10.05% and a net margin of 14.26%. The business had revenue of $189.90 million for the quarter, compared to the consensus estimate of $177.42 million. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, analysts predict that Ormat Technologies will post $2.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, May 18th. Ormat Technologies’s dividend payout ratio (DPR) is 16.08%.
In other Ormat Technologies news, SVP Etty Rosner sold 879 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $56.39, for a total value of $49,566.81. Following the sale, the senior vice president now directly owns 879 shares of the company’s stock, valued at $49,566.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shimon Hatzir sold 3,074 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 3,074 shares in the company, valued at $188,128.80. The disclosure for this sale can be found here. Insiders sold 49,150 shares of company stock worth $2,855,153 over the last three months. Corporate insiders own 22.97% of the company’s stock.
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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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