Ormat Technologies (NYSE:ORA) Announces Earnings Results

Ormat Technologies (NYSE:ORA) released its quarterly earnings results on Wednesday. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38, FiscalAI reports. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. During the same period in the prior year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 75.8% compared to the same quarter last year.

Ormat Technologies Price Performance

NYSE:ORA traded down $0.82 during mid-day trading on Friday, hitting $121.70. The company’s stock had a trading volume of 861,635 shares, compared to its average volume of 900,622. Ormat Technologies has a fifty-two week low of $70.42 and a fifty-two week high of $132.58. The company has a current ratio of 1.07, a quick ratio of 0.75 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 59.08, a P/E/G ratio of 5.37 and a beta of 0.80. The stock has a fifty day moving average of $111.26 and a 200-day moving average of $113.47.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio is 23.30%.

Analyst Ratings Changes

A number of research firms have issued reports on ORA. Barclays upped their price target on shares of Ormat Technologies from $123.00 to $126.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a report on Friday. Robert W. Baird cut their price objective on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Citigroup upped their price objective on shares of Ormat Technologies from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $144.00 price objective on shares of Ormat Technologies in a research report on Friday. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Ormat Technologies News Summary

Here are the key news stories impacting Ormat Technologies this week:

• Positive Sentiment: Ormat posted Q1 adjusted EPS of $1.30, well above the $0.92 consensus estimate, while revenue climbed 75.8% year over year to $403.9 million. The beat was driven by stronger performance in energy storage and products, plus supportive merchant pricing. Article Title
• Positive Sentiment: Adjusted EBITDA rose 29.7% year over year to $194.9 million, reinforcing the view that profitability improved meaningfully in the quarter. Article Title
• Positive Sentiment: JPMorgan raised its price target on ORA to $123 from $106, signaling increased confidence in the stock’s near-term valuation even while keeping a neutral rating. Article Title
• Neutral Sentiment: The company also declared a quarterly dividend of $0.12 per share, which supports the investment case but is not a major catalyst by itself.
• Negative Sentiment: Despite the strong quarter, insider trading and some institutional filings show more selling than buying over the past six months, which may temper enthusiasm around the stock’s longer-term ownership trend. Article Title

Insider Transactions at Ormat Technologies

In related news, insider Jessica Woelfel sold 2,359 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the transaction, the insider owned 3,433 shares of the company’s stock, valued at $361,014.28. This represents a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 3,364 shares of company stock valued at $353,621 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of Ormat Technologies by 9.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock valued at $127,000 after acquiring an additional 99 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Ormat Technologies by 4.7% in the third quarter. Mackenzie Financial Corp now owns 3,862 shares of the energy company’s stock valued at $372,000 after acquiring an additional 175 shares during the last quarter. HM Payson & Co. raised its stake in shares of Ormat Technologies by 100.0% in the fourth quarter. HM Payson & Co. now owns 400 shares of the energy company’s stock valued at $44,000 after acquiring an additional 200 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Ormat Technologies by 0.3% in the second quarter. California State Teachers Retirement System now owns 57,511 shares of the energy company’s stock valued at $4,817,000 after acquiring an additional 200 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Ormat Technologies by 245.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after acquiring an additional 211 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.