$0.55 EPS Expected for Ormat Technologies, Inc. (ORA) This Quarter

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

On average, analysts expect that Ormat Technologies will report full year earnings of $2.29 per share for the current year, with EPS estimates ranging from $2.24 to $2.32. For the next fiscal year, analysts forecast that the firm will report earnings of $2.44 per share, with EPS estimates ranging from $2.38 to $2.48. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Ormat Technologies.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data 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 company had revenue of $189.90 million during the quarter, compared to analyst estimates of $177.42 million. During the same period in the previous year, the business earned $0.59 EPS. Ormat Technologies’s quarterly revenue was up 25.3% on a year-over-year basis.

ORA has been the subject of a number of recent research reports. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $65.00 price objective (up from $56.00) on shares of Ormat Technologies in a research note on Wednesday, March 1st. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a research note on Saturday, March 4th. Barclays PLC raised their price objective on shares of Ormat Technologies from $43.00 to $54.00 and gave the stock an “underweight” rating in a research note on Monday, March 6th. Roth Capital set a $66.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, March 6th. Finally, Cowen and Company reissued an “outperform” rating and set a $67.00 price objective on shares of Ormat Technologies in a research note on Wednesday, April 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.25.

Ormat Technologies (NYSE:ORA) traded down 0.16% during midday trading on Wednesday, hitting $60.73. The stock had a trading volume of 328,964 shares. The stock has a 50-day moving average price of $58.76 and a 200 day moving average price of $55.83. Ormat Technologies has a 12-month low of $41.12 and a 12-month high of $61.49. The firm has a market cap of $3.02 billion, a P/E ratio of 30.64 and a beta of 1.19.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd were paid a $0.08 dividend. The ex-dividend date was Thursday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.53%. Ormat Technologies’s payout ratio is currently 16.08%.

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In other news, SVP Etty Rosner sold 879 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $56.39, for a total transaction of $49,566.81. Following the completion of the sale, the senior vice president now directly owns 879 shares of the company’s stock, valued at approximately $49,566.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shimon Hatzir sold 3,074 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $61.20, for a total transaction of $188,128.80. Following the sale, the vice president now directly owns 3,074 shares of the company’s stock, valued at $188,128.80. The disclosure for this sale can be found here. Insiders sold a total of 49,150 shares of company stock valued at $2,855,153 over the last ninety days. 22.97% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Ormat Technologies by 0.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 11,131 shares of the energy company’s stock valued at $633,000 after buying an additional 60 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in shares of Ormat Technologies by 0.8% in the fourth quarter. Bowling Portfolio Management LLC now owns 13,100 shares of the energy company’s stock valued at $702,000 after buying an additional 110 shares in the last quarter. Capital One National Association boosted its stake in shares of Ormat Technologies by 1.0% in the first quarter. Capital One National Association now owns 11,777 shares of the energy company’s stock valued at $672,000 after buying an additional 117 shares in the last quarter. Navellier & Associates Inc boosted its stake in shares of Ormat Technologies by 2.3% in the first quarter. Navellier & Associates Inc now owns 8,090 shares of the energy company’s stock valued at $462,000 after buying an additional 180 shares in the last quarter. Finally, SG Americas Securities LLC boosted 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. 45.78% of the stock is owned by institutional investors.

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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