Ormat Technologies, Inc. (ORA) Expected to Post Quarterly Sales of $165.97 Million
Wall Street brokerages expect Ormat Technologies, Inc. (NYSE:ORA) to post $165.97 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Ormat Technologies’ earnings, with the lowest sales estimate coming in at $164.30 million and the highest estimate coming in at $166.90 million. Ormat Technologies reported sales of $166.52 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The business is scheduled to issue its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that Ormat Technologies will report full year sales of $165.97 million for the current year, with estimates ranging from $690.70 million to $693.40 million. For the next year, analysts forecast that the company will report sales of $732.77 million per share, with estimates ranging from $727.00 million to $737.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Ormat Technologies.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The firm had revenue of $157.20 million during the quarter, compared to the consensus estimate of $159.02 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of ORA. Royal Bank of Canada lifted its holdings in shares of Ormat Technologies by 1.7% during the 2nd quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after acquiring an additional 34 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Ormat Technologies by 153.2% during the 2nd quarter. Advisor Group Inc. now owns 2,302 shares of the energy company’s stock worth $135,000 after acquiring an additional 1,393 shares during the last quarter. Psagot Investment House Ltd. lifted its holdings in shares of Ormat Technologies by 1.6% during the 2nd quarter. Psagot Investment House Ltd. now owns 2,661 shares of the energy company’s stock worth $156,000 after acquiring an additional 43 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ormat Technologies by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,964 shares of the energy company’s stock worth $233,000 after acquiring an additional 595 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its holdings in shares of Ormat Technologies by 1.0% during the 2nd quarter. Hanseatic Management Services Inc. now owns 4,940 shares of the energy company’s stock worth $290,000 after acquiring an additional 48 shares during the last quarter. 46.34% of the stock is owned by institutional investors.
Shares of Ormat Technologies (ORA) traded up $0.34 during trading hours on Monday, reaching $66.07. 161,500 shares of the company’s stock traded hands, compared to its average volume of 175,356. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.72. Ormat Technologies has a 1 year low of $52.38 and a 1 year high of $66.46. The company has a market cap of $3,342.95, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23.
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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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