Oppenheimer Holdings Weighs in on Ormat Technologies, Inc.’s Q3 2017 Earnings (ORA)
Ormat Technologies, Inc. (NYSE:ORA) – Investment analysts at Oppenheimer Holdings lifted their Q3 2017 EPS estimates for shares of Ormat Technologies in a report issued on Friday. Oppenheimer Holdings analyst N. Kaye now anticipates that the energy company will post earnings of $0.52 per share for the quarter, up from their previous estimate of $0.51. Oppenheimer Holdings has a “Buy” rating and a $65.00 price target on the stock. Oppenheimer Holdings also issued estimates for Ormat Technologies’ Q4 2017 earnings at $0.54 EPS and FY2017 earnings at $2.35 EPS.
Ormat Technologies (NYSE:ORA) last released its earnings results on Thursday, August 3rd. The energy company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a return on equity of 10.39% and a net margin of 15.36%. The firm had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. WARNING: This article was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.dailypolitical.com/2017/08/07/oppenheimer-holdings-weighs-in-on-ormat-technologies-inc-s-q3-2017-earnings-ora.html.
Other research analysts also recently issued research reports about the company. Cowen and Company set a $67.00 price target on Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Friday, May 12th. BidaskClub upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Barclays PLC upgraded Ormat Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $54.00 to $59.00 in a research note on Friday, May 26th. Finally, J P Morgan Chase & Co upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $65.00 to $71.00 in a research note on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ormat Technologies has an average rating of “Buy” and a consensus price target of $65.25.
Ormat Technologies (NYSE:ORA) opened at 57.97 on Monday. Ormat Technologies has a one year low of $45.30 and a one year high of $61.49. The firm has a 50-day moving average price of $58.85 and a 200-day moving average price of $57.52. The firm has a market capitalization of $2.88 billion, a P/E ratio of 29.25 and a beta of 1.20.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. Ormat Technologies’s dividend payout ratio (DPR) is currently 14.61%.
In other Ormat Technologies news, VP Shimon Hatzir sold 1,169 shares of Ormat Technologies stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $61.00, for a total value of $71,309.00. Following the transaction, the vice president now directly owns 1,169 shares in the company, valued at approximately $71,309. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Etty Rosner sold 879 shares of Ormat Technologies stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $56.39, for a total value of $49,566.81. Following the completion of the transaction, the senior vice president now owns 879 shares in the company, valued at $49,566.81. The disclosure for this sale can be found here. Insiders sold a total of 11,083,033 shares of company stock worth $631,792,760 over the last quarter. Company insiders own 22.97% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV boosted its stake in Ormat Technologies by 10.2% in the second quarter. KBC Group NV now owns 81,736 shares of the energy company’s stock valued at $4,796,000 after buying an additional 7,581 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Ormat Technologies by 108.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,425 shares of the energy company’s stock valued at $729,000 after buying an additional 6,452 shares in the last quarter. Legal & General Group Plc boosted its stake in Ormat Technologies by 11.4% in the second quarter. Legal & General Group Plc now owns 14,373 shares of the energy company’s stock valued at $845,000 after buying an additional 1,468 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Ormat Technologies by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 279,582 shares of the energy company’s stock valued at $16,405,000 after buying an additional 1,483 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Ormat Technologies by 189.0% in the second quarter. SG Americas Securities LLC now owns 6,603 shares of the energy company’s stock valued at $387,000 after buying an additional 4,318 shares in the last quarter. Institutional investors own 45.96% of the company’s stock.
About Ormat Technologies
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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