Ormat Technologies (NYSE:ORA) Announces Earnings Results

Ormat Technologies (NYSE:ORA - Get Free Report) released its earnings results on Wednesday. The energy company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.25, Zacks reports. The company had revenue of $230.74 million during the quarter, compared to analysts' expectations of $235.09 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. Ormat Technologies updated its FY 2025 guidance to EPS.

Ormat Technologies Stock Up 1.3 %

NYSE ORA traded up $0.91 during mid-day trading on Friday, reaching $69.85. The stock had a trading volume of 593,858 shares, compared to its average volume of 539,840. The stock has a market cap of $4.22 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 3.18 and a beta of 0.57. Ormat Technologies has a 1 year low of $59.41 and a 1 year high of $84.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The company has a fifty day moving average price of $66.49 and a 200 day moving average price of $73.20.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 12th. Ormat Technologies's payout ratio is 23.53%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ORA. JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday. Jefferies Financial Group raised shares of Ormat Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $73.00 to $78.00 in a research report on Thursday, February 20th. Roth Mkm restated a "buy" rating and issued a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer raised their target price on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Piper Sandler assumed coverage on Ormat Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $78.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $82.88.

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Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 1,256 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the transaction, the director now directly owns 3,576 shares of the company's stock, valued at $293,232. This represents a 25.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $75.38, for a total value of $278,906,000.00. Following the completion of the sale, the insider now owns 2,976,077 shares of the company's stock, valued at $224,336,684.26. The trade was a 55.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.