Equities Analysts Set Expectations for ORA FY2024 Earnings

Ormat Technologies, Inc. (NYSE:ORA - Free Report) - Equities research analysts at Roth Capital dropped their FY2024 EPS estimates for Ormat Technologies in a research report issued on Thursday, October 24th. Roth Capital analyst J. Clare now expects that the energy company will post earnings per share of $1.96 for the year, down from their previous forecast of $2.05. The consensus estimate for Ormat Technologies' current full-year earnings is $1.91 per share.

Several other research firms also recently weighed in on ORA. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, July 16th. Roth Mkm restated a "buy" rating and set a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Finally, Oppenheimer raised their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $81.67.

Ormat Technologies Price Performance

NYSE:ORA traded up $2.58 during mid-day trading on Monday, hitting $81.45. 429,536 shares of the company's stock traded hands, compared to its average volume of 435,354. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The firm's 50 day simple moving average is $75.65 and its 200 day simple moving average is $73.08. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $81.88. The company has a market cap of $4.92 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 4.12 and a beta of 0.53.

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

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. Ormat Technologies's dividend payout ratio (DPR) is presently 21.92%.

Insider Transactions at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Byron G. Wong sold 1,266 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dafna Sharir sold 433 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares of the company's stock, valued at approximately $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On Ormat Technologies

A number of institutional investors have recently bought and sold shares of ORA. Blue Trust Inc. grew its holdings in 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. UMB Bank n.a. lifted its position in Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock valued at $47,000 after buying an additional 320 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Ormat Technologies during the first quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company's stock valued at $52,000 after buying an additional 391 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company's stock valued at $117,000 after buying an additional 514 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.