Equities analysts expect that Ormat Technologies (NYSE:ORA) will announce earnings of $0.54 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ormat Technologies’ earnings. The lowest EPS estimate is $0.51 and the highest is $0.58. Ormat Technologies posted earnings of $0.58 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.9%. The firm is scheduled to announce its next earnings results on Thursday, August 2nd.
On average, analysts expect that Ormat Technologies will report full-year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.09. For the next fiscal year, analysts forecast that the business will report earnings of $2.40 per share, with EPS estimates ranging from $2.27 to $2.64. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Ormat Technologies.
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Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Friday, March 16th. The energy company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.72. The company had revenue of $166.37 million for the quarter, compared to the consensus estimate of $169.36 million. Ormat Technologies had a return on equity of 11.11% and a net margin of 24.00%.
ORA has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating and set a $75.00 price target on shares of Ormat Technologies in a research report on Wednesday, January 24th. JPMorgan Chase increased their price target on Ormat Technologies from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Saturday, January 27th. Roth Capital lowered their price target on Ormat Technologies from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, March 2nd. Finally, UBS initiated coverage on Ormat Technologies in a research report on Friday, March 16th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Ormat Technologies has a consensus rating of “Hold” and an average price target of $67.71.
Institutional investors have recently made changes to their positions in the business. Orix Corp acquired a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $702,829,000. OLD National Bancorp IN acquired a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $412,000. US Bancorp DE raised its holdings in shares of Ormat Technologies by 106.4% during the fourth quarter. US Bancorp DE now owns 11,344 shares of the energy company’s stock valued at $727,000 after acquiring an additional 5,847 shares during the last quarter. Cortina Asset Management LLC raised its holdings in shares of Ormat Technologies by 0.6% during the fourth quarter. Cortina Asset Management LLC now owns 133,718 shares of the energy company’s stock valued at $8,553,000 after acquiring an additional 846 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Ormat Technologies by 2.1% during the fourth quarter. Swiss National Bank now owns 63,834 shares of the energy company’s stock valued at $4,083,000 after acquiring an additional 1,300 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.
Shares of Ormat Technologies opened at $52.77 on Friday, Marketbeat.com reports. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.33 and a beta of 1.36. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. Ormat Technologies has a 12-month low of $51.63 and a 12-month high of $55.95.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 30th. Shareholders of record on Monday, May 21st will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, May 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. Ormat Technologies’s payout ratio is currently 30.77%.
About Ormat Technologies
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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