Ormat Technologies (ORA) Getting Somewhat Favorable Press Coverage, Study Finds
News articles about Ormat Technologies (NYSE:ORA) have been trending somewhat positive this week, Accern Sentiment reports. Accern identifies positive and negative news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ormat Technologies earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news headlines about the energy company an impact score of 45.9037606408284 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Ormat Technologies, Inc. (ORA) Given Consensus Rating of “Buy” by Brokerages (americanbankingnews.com)
- ETFs with exposure to Ormat Technologies, Inc. : September 14, 2017 (finance.yahoo.com)
- Ormat Technologies, Inc. :ORA-US: Earnings Analysis: Q2, 2017 By the Numbers : September 13, 2017 (finance.yahoo.com)
- Ormat Technologies, Inc. : ORA-US: Dividend Analysis : August 15th, 2017 (record date) : By the numbers : September 13, 2017 (finance.yahoo.com)
- Ormat Technologies, Inc. breached its 50 day moving average in a Bullish Manner : ORA-US : September 11, 2017 (finance.yahoo.com)
ORA has been the subject of a number of analyst reports. BidaskClub cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, August 8th. Barclays PLC upgraded shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $54.00 to $59.00 in a research note on Friday, May 26th. Cowen and Company set a $67.00 price target on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, J P Morgan Chase & Co upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ormat Technologies presently has an average rating of “Buy” and a consensus target price of $65.38.
Shares of Ormat Technologies (NYSE:ORA) opened at 57.66 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 26.30 and a beta of 1.20. The stock’s 50 day moving average is $57.25 and its 200 day moving average is $57.99. Ormat Technologies has a 12-month low of $45.30 and a 12-month high of $61.49.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The company had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts expect that Ormat Technologies will post $2.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Ormat Technologies’s dividend payout ratio (DPR) is presently 14.61%.
In other news, major shareholder Iv 2007 Ltd. Fimi sold 7,202,646 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $57.00, for a total transaction of $410,550,822.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bronicki Investments Ltd. sold 3,323,482 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $57.00, for a total transaction of $189,438,474.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,033,679 shares of company stock valued at $628,925,364. 22.97% of the stock is currently owned by insiders.
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Ormat Technologies Company Profile
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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