Ormat Technologies, Inc. (ORA) Scheduled to Post Earnings on Monday
Ormat Technologies, Inc. (NYSE:ORA) is scheduled to post its quarterly earnings results before the market opens on Monday, November 6th. Analysts expect Ormat Technologies to post earnings of $0.48 per share for the quarter.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) 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 business had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. During the same period in the prior year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts expect Ormat Technologies to post $2.29 EPS for the current fiscal year and $2.47 EPS for the next fiscal year.
Shares of Ormat Technologies, Inc. (NYSE ORA) traded down 1.10% during midday trading on Monday, reaching $64.79. 32,096 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $60.91 and a 200-day moving average of $58.89. The stock has a market capitalization of $3.23 billion, a P/E ratio of 29.56 and a beta of 1.22. Ormat Technologies, Inc. has a 12-month low of $45.30 and a 12-month high of $65.52.
In related news, Director David Granot sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $57.66, for a total transaction of $144,150.00. Following the completion of the sale, the director now directly owns 2,500 shares in the company, valued at $144,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Eugene Joyal sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $57.75, for a total transaction of $433,125.00. Following the sale, the director now owns 7,500 shares of the company’s stock, valued at $433,125. The disclosure for this sale can be found here. Insiders have sold 91,859 shares of company stock valued at $5,446,457 over the last 90 days. 14.74% of the stock is currently owned by company insiders.
A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Thursday, October 5th. 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. BidaskClub lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of Ormat Technologies in a research note on Wednesday, September 27th. Finally, TheStreet lowered shares of Ormat Technologies from a “b” rating to a “c+” rating in a research note on Monday, August 14th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Ormat Technologies currently has an average rating of “Buy” and a consensus price target of $66.38.
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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