Roth Capital Forecasts Lower Earnings for Ormat Technologies

Ormat Technologies, Inc. (NYSE:ORA - Free Report) - Roth Capital decreased their Q3 2024 earnings per share (EPS) estimates for shares of Ormat Technologies in a report released on Thursday, October 24th. Roth Capital analyst J. Clare now anticipates that the energy company will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.35. The consensus estimate for Ormat Technologies' current full-year earnings is $1.94 per share. Roth Capital also issued estimates for Ormat Technologies' Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.80 EPS, FY2025 earnings at $2.41 EPS and FY2026 earnings at $2.80 EPS.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business had revenue of $212.96 million during the quarter, compared to analysts' expectations of $214.07 million. During the same period in the prior year, the business earned $0.40 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year.

ORA has been the subject of several other reports. Oppenheimer upped their target price on Ormat Technologies from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Roth Mkm reiterated a "buy" rating and issued a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.67.

Ormat Technologies Stock Up 1.1 %

Shares of ORA stock traded up $0.87 during mid-day trading on Friday, hitting $78.86. The stock had a trading volume of 323,805 shares, compared to its average volume of 435,382. Ormat Technologies has a 12-month low of $58.73 and a 12-month high of $80.53. The firm has a market capitalization of $4.77 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 4.10 and a beta of 0.53. The firm's 50-day moving average is $75.40 and its two-hundred day moving average is $72.77. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama increased its holdings in shares of Ormat Technologies by 0.3% in the first quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company's stock valued at $4,465,000 after purchasing an additional 177 shares during the period. Blue Trust Inc. increased its holdings in shares of Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock valued at $26,000 after purchasing an additional 229 shares during the period. Harrington Investments INC increased its holdings in shares of Ormat Technologies by 3.0% in the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company's stock valued at $570,000 after purchasing an additional 230 shares during the period. Arizona State Retirement System increased its holdings in shares of Ormat Technologies by 1.9% in the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company's stock valued at $1,091,000 after purchasing an additional 286 shares during the period. Finally, State of Michigan Retirement System increased its holdings in shares of Ormat Technologies by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,200 shares of the energy company's stock valued at $874,000 after purchasing an additional 300 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now directly owns 3,561 shares of the company's stock, valued at $266,754.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Byron G. Wong sold 1,266 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now directly owns 6,906 shares of the company's stock, valued at $517,811.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dafna Sharir sold 433 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the transaction, the director now directly owns 3,561 shares in the company, valued at $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies's dividend payout ratio (DPR) is currently 21.92%.

Ormat Technologies Company Profile

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