Zacks: Brokerages Anticipate Ormat Technologies, Inc. (ORA) to Post $0.49 EPS

Share on StockTwits

Brokerages expect that Ormat Technologies, Inc. (NYSE:ORA) will post earnings of $0.49 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ormat Technologies’ earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $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 15.5%. The firm is expected to issue its next earnings report on Thursday, August 2nd.

On average, analysts expect that Ormat Technologies will report full year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.71 to $2.04. For the next year, analysts anticipate that the firm will post earnings of $2.37 per share, with EPS estimates ranging from $2.27 to $2.57. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Ormat Technologies.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Monday, May 7th. The energy company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.09). Ormat Technologies had a net margin of 24.00% and a return on equity of 11.03%. The firm had revenue of $184.00 million during the quarter, compared to analyst estimates of $176.72 million. During the same quarter in the previous year, the business posted $0.70 EPS. Ormat Technologies’s revenue for the quarter was down 3.1% compared to the same quarter last year.

ORA has been the topic of several analyst reports. Roth Capital dropped their price target on shares of Ormat Technologies from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. Cowen set a $67.00 price target on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Oppenheimer restated a “market perform” rating on shares of Ormat Technologies in a research note on Friday, April 6th. They noted that the move was a valuation call. Finally, Guggenheim lowered shares of Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research note on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Ormat Technologies presently has a consensus rating of “Hold” and an average target price of $69.17.

Shares of NYSE:ORA traded down $0.07 during trading hours on Friday, hitting $53.11. The stock had a trading volume of 649,214 shares, compared to its average volume of 212,320. Ormat Technologies has a 1-year low of $50.43 and a 1-year high of $70.68. The firm has a market capitalization of $2.69 billion, a P/E ratio of 17.76, a PEG ratio of 2.41 and a beta of 1.32. The company has a current ratio of 1.57, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Monday, May 21st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, May 18th. Ormat Technologies’s dividend payout ratio (DPR) is presently 13.38%.

Several institutional investors have recently bought and sold shares of ORA. Orix Corp bought a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $702,829,000. Delek Group Ltd. bought a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $41,008,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Ormat Technologies by 27.7% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,977,906 shares of the energy company’s stock valued at $126,507,000 after acquiring an additional 429,123 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Ormat Technologies by 627.9% in the first quarter. Van ECK Associates Corp now owns 386,501 shares of the energy company’s stock valued at $21,791,000 after acquiring an additional 333,403 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Ormat Technologies by 145.4% in the fourth quarter. Glenmede Trust Co. NA now owns 498,692 shares of the energy company’s stock valued at $31,894,000 after acquiring an additional 295,435 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

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.

Get a free copy of the Zacks research report on Ormat Technologies (ORA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ormat Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply