Ormat Technologies (NYSE:ORA) Earning Somewhat Positive News Coverage, Study Finds
Headlines about Ormat Technologies (NYSE:ORA) have trended somewhat positive on Saturday, Accern Sentiment Analysis reports. Accern identifies negative and positive press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Ormat Technologies earned a news impact score of 0.13 on Accern’s scale. Accern also gave news stories about the energy company an impact score of 46.5824666064288 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the news stories that may have impacted Accern’s analysis:
- Ormat Technologies, Inc. is trading below its 50 day moving average : ORA-US : August 11, 2017 (finance.yahoo.com)
- Ormat Technologies, Inc. (ORA) Director Sells $433,125.00 in Stock (americanbankingnews.com)
- BidaskClub Downgrades Ormat Technologies, Inc (overnewsmagazine.com)
- Ormat Technologies (ORA) Receives Daily Media Sentiment Rating of 0.27 (elcumanes.com)
- Ormat Technologies, Inc. (ORA) Major Shareholder Sells $410550822.00 in Stock (campdesrecrues.com)
Ormat Technologies (NYSE:ORA) traded down 0.80% on Friday, reaching $56.13. 147,994 shares of the company’s stock were exchanged. The company has a market capitalization of $2.80 billion, a P/E ratio of 25.61 and a beta of 1.20. The firm has a 50-day moving average price of $58.24 and a 200-day moving average price of $57.68. Ormat Technologies has a 1-year low of $45.30 and a 1-year high of $61.49.
Ormat Technologies (NYSE:ORA) last announced its quarterly 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 business had revenue of $179.36 million during the quarter, compared to the consensus estimate of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. Equities research analysts expect that Ormat Technologies will post $2.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.57%. Ormat Technologies’s dividend payout ratio is presently 14.61%.
Several brokerages recently issued reports on ORA. J P Morgan Chase & Co raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $65.00 to $71.00 in a report on Wednesday, June 7th. Barclays PLC raised shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $54.00 to $59.00 in a report on Friday, May 26th. Cowen and Company set a $67.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. Oppenheimer Holdings, Inc. set a $65.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, BidaskClub cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.38.
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In other news, VP Zvi Krieger sold 7,704 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $57.81, for a total value of $445,368.24. Following the completion of the transaction, the vice president now owns 7,704 shares in the company, valued at approximately $445,368.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Eugene Joyal sold 7,500 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $57.00, for a total transaction of $427,500.00. Following the completion of the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $427,500. The disclosure for this sale can be found here. Insiders sold a total of 11,075,533 shares of company stock valued at $631,371,335 in the last quarter. Insiders own 22.97% of the company’s stock.
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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