Ormat Technologies, Inc. (ORA) to Release Quarterly Earnings on Monday
Ormat Technologies, Inc. (NYSE:ORA) will announce its earnings results before the market opens on Monday, November 6th. Analysts expect the company to announce earnings of $0.48 per share for the quarter.
Ormat Technologies (NYSE:ORA) last announced its earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $179.36 million during the quarter, compared to analysts’ expectations of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. Ormat Technologies’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, analysts expect Ormat Technologies to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of Ormat Technologies, Inc. (ORA) opened at $64.76 on Friday. The stock has a market cap of $3,232.17, a PE ratio of 26.98, a PEG ratio of 2.09 and a beta of 1.25. Ormat Technologies, Inc. has a 52-week low of $45.30 and a 52-week high of $65.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.81 and a quick ratio of 1.72.
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In other news, Director David Granot sold 2,500 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $57.66, for a total value of $144,150.00. Following the completion of the transaction, the director now owns 2,500 shares of the company’s stock, valued at $144,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Erez Klein sold 24,576 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $59.03, for a total transaction of $1,450,721.28. Following the completion of the transaction, the vice president now directly owns 23,890 shares of the company’s stock, valued at approximately $1,410,226.70. The disclosure for this sale can be found here. Insiders have sold 91,859 shares of company stock valued at $5,446,457 in the last ninety days. 14.74% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on ORA shares. Zacks Investment Research cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, July 17th. TheStreet cut shares of Ormat Technologies from a “b” rating to a “c+” rating in a research report on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of Ormat Technologies in a research report on Wednesday, September 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus 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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