Q3 EPS Forecast for Ormat Technologies Reduced by Analyst

Ormat Technologies, Inc. (NYSE:ORA) – Analysts at Roth Capital cut their Q3 2024 earnings per share estimates for Ormat Technologies in a research note issued on Thursday, October 24th. Roth Capital analyst J. Clare now forecasts that the energy company will post earnings of $0.31 per share for the quarter, down from their prior estimate of $0.35. The consensus estimate for Ormat Technologies’ current full-year earnings is $1.94 per share. Roth Capital also issued estimates for Ormat Technologies’ Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.80 EPS, FY2025 earnings at $2.41 EPS and FY2026 earnings at $2.80 EPS.

ORA has been the subject of a number of other research reports. Oppenheimer increased their target price on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Roth Mkm restated a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ormat Technologies currently has an average rating of “Moderate Buy” and an average price target of $81.67.

Ormat Technologies Price Performance

ORA stock opened at $77.99 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $80.53. The firm has a market cap of $4.71 billion, a P/E ratio of 35.61, a price-to-earnings-growth ratio of 4.10 and a beta of 0.53. The stock has a 50-day simple moving average of $75.40 and a 200-day simple moving average of $72.77.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. During the same quarter last year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year.

Institutional Trading of Ormat Technologies

Several hedge funds have recently made changes to their positions in ORA. State of Alaska Department of Revenue raised its stake in Ormat Technologies by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,221 shares of the energy company’s stock valued at $478,000 after acquiring an additional 420 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Ormat Technologies during the 3rd quarter valued at $1,113,000. DMC Group LLC bought a new stake in Ormat Technologies during the 3rd quarter valued at $204,000. Everett Harris & Co. CA raised its stake in Ormat Technologies by 25.0% during the 3rd quarter. Everett Harris & Co. CA now owns 5,000 shares of the energy company’s stock valued at $385,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after acquiring an additional 229 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Insiders Place Their Bets

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is presently 21.92%.

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.