Ormat Technologies Rating Lowered to Neutral at Zacks (ORA)
Ormat Technologies (NYSE:ORA) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Friday. They currently have a $32.50 price target on the stock. Zacks‘s target price points to a potential upside of 13.08% from the stock’s previous close.
Separately, analysts at Ardour Capital raised their price target on shares of Ormat Technologies from $30.00 to $36.00 in a research note on Monday, May 12th. They now have an “accumulate” rating on the stock.
Shares of Ormat Technologies (NYSE:ORA) traded up 0.90% during mid-day trading on Friday, hitting $28.999. The stock had a trading volume of 14,854 shares. Ormat Technologies has a 52 week low of $22.15 and a 52 week high of $30.46. The stock’s 50-day moving average is $28.91 and its 200-day moving average is $27.55. The company has a market cap of $1.319 billion and a P/E ratio of 19.29.
Ormat Technologies (NYSE:ORA) last released its earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.26. The company had revenue of $142.44 million for the quarter, compared to the consensus estimate of $133.68 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts expect that Ormat Technologies will post $1.37 EPS for the current fiscal year.
Ormat Technologies, Inc (NYSE:ORA) is a holding company.
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