Ormat Technologies (ORA) Set to Announce Earnings on Wednesday

Ormat Technologies (NYSE:ORA) is scheduled to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect Ormat Technologies to post earnings of $0.68 per share for the quarter. Ormat Technologies has set its FY 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 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.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $63.83 on Wednesday. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 2.95 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. Ormat Technologies has a 52 week low of $58.73 and a 52 week high of $88.26. The firm’s 50-day simple moving average is $64.83 and its two-hundred day simple moving average is $66.93.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.12 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. Ormat Technologies’s payout ratio is 22.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ORA shares. TD Cowen reduced their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, February 23rd. Oppenheimer reduced their price objective on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Finally, Barclays reduced their price objective on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $81.00.

Insider Activity at Ormat Technologies

In related news, Director Stanley Stern sold 1,825 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the sale, the director now directly owns 4,835 shares in the company, valued at approximately $323,703.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.