$0.28 EPS Expected for Ormat Technologies, Inc. (NYSE:ORA) This Quarter

Equities research analysts forecast that Ormat Technologies, Inc. (NYSE:ORA) will report earnings per share of $0.28 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Ormat Technologies’ earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.21. Ormat Technologies reported earnings per share of $0.31 during the same quarter last year, which suggests a negative year-over-year growth rate of 9.7%. The company is expected to announce its next quarterly earnings report on Tuesday, November 2nd.

On average, analysts expect that Ormat Technologies will report full-year earnings of $1.48 per share for the current financial year, with EPS estimates ranging from $1.32 to $1.56. For the next year, analysts anticipate that the company will post earnings of $2.00 per share, with EPS estimates ranging from $1.47 to $2.31. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Ormat Technologies.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, August 4th. The energy company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Ormat Technologies had a net margin of 9.92% and a return on equity of 3.96%. The firm had revenue of $146.90 million for the quarter, compared to analyst estimates of $147.75 million. During the same quarter last year, the firm posted $0.45 earnings per share. Ormat Technologies’s revenue for the quarter was down 16.0% compared to the same quarter last year.

Several equities analysts recently issued reports on ORA shares. Roth Capital reduced their price objective on Ormat Technologies from $97.00 to $76.00 and set a “neutral” rating on the stock in a research note on Thursday, July 15th. JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $83.00 to $89.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 21st. Finally, TheStreet cut Ormat Technologies from a “b-” rating to a “c” rating in a research note on Monday, May 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Buy” and an average target price of $83.17.

A number of institutional investors and hedge funds have recently bought and sold shares of ORA. BlackRock Inc. lifted its stake in shares of Ormat Technologies by 22.0% during the first quarter. BlackRock Inc. now owns 8,623,901 shares of the energy company’s stock valued at $677,236,000 after acquiring an additional 1,555,133 shares during the period. Morgan Stanley lifted its stake in Ormat Technologies by 1,168.4% in the second quarter. Morgan Stanley now owns 738,866 shares of the energy company’s stock valued at $51,373,000 after buying an additional 680,613 shares during the period. Credit Suisse AG lifted its stake in Ormat Technologies by 65.4% in the first quarter. Credit Suisse AG now owns 929,565 shares of the energy company’s stock valued at $73,000,000 after buying an additional 367,724 shares during the period. Schroder Investment Management Group lifted its stake in Ormat Technologies by 120.3% in the first quarter. Schroder Investment Management Group now owns 624,908 shares of the energy company’s stock valued at $49,074,000 after buying an additional 341,250 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Ormat Technologies by 49.3% in the first quarter. Goldman Sachs Group Inc. now owns 838,338 shares of the energy company’s stock valued at $65,834,000 after buying an additional 276,642 shares during the period. Hedge funds and other institutional investors own 84.93% of the company’s stock.

NYSE:ORA traded up $0.80 during trading hours on Tuesday, hitting $67.14. The stock had a trading volume of 4,121 shares, compared to its average volume of 605,916. Ormat Technologies has a 1-year low of $54.05 and a 1-year high of $128.87. The company has a current ratio of 2.39, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The company has a market cap of $3.76 billion, a PE ratio of 55.95, a price-to-earnings-growth ratio of 3.57 and a beta of 0.32. The business has a 50 day simple moving average of $69.22 and a two-hundred day simple moving average of $71.54.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $0.48 annualized dividend and a yield of 0.71%. Ormat Technologies’s dividend payout ratio (DPR) is currently 29.09%.

About Ormat Technologies

Ormat Technologies, Inc operates as a holding company. The firm engages in the provision of geothermal and recovered energy power business. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses in the sale of electricity from the company’s power plants pursuant to PPAs.

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