Ormat Technologies (ORA) Set to Announce Quarterly Earnings on Wednesday

Ormat Technologies (NYSE:ORA - Get Free Report) is scheduled to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Ormat Technologies has set its FY 2024 guidance at EPS.Investors interested in registering for the company's conference call can do so using this link.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $214.07 million. During the same period in the prior year, the business earned $0.40 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. On average, analysts expect Ormat Technologies to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ormat Technologies Trading Down 0.6 %

Ormat Technologies stock traded down $0.50 during trading on Wednesday, reaching $80.49. 173,772 shares of the company were exchanged, compared to its average volume of 433,624. The stock's 50 day simple moving average is $75.81 and its two-hundred day simple moving average is $73.19. The company has a market capitalization of $4.87 billion, a P/E ratio of 37.15, a PEG ratio of 4.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. Ormat Technologies has a 52-week low of $58.73 and a 52-week high of $82.39.

Ormat Technologies Announces Dividend

The business 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 of this dividend was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. Ormat Technologies's dividend payout ratio is presently 21.92%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Oppenheimer upped their price objective 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. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, July 16th. Finally, Roth Mkm reiterated a "buy" rating and issued a $80.00 price objective on shares of Ormat Technologies in a report on Monday, August 12th. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $81.67.

Insiders Place Their Bets

In other news, Director Dafna Sharir sold 433 shares of the company'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 value of $32,436.03. Following the transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, 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 position. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.

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.