Ormat Technologies (ORA) Set to Announce Quarterly Earnings on Wednesday

Ormat Technologies (NYSE:ORA) will announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Ormat Technologies has set its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $214.07 million. During the same period in the previous year, the business posted $0.40 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. 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 Trading Down 0.6 %

Shares of Ormat Technologies stock opened at $80.96 on Wednesday. The stock’s 50-day simple moving average is $75.81 and its 200 day simple moving average is $73.19. Ormat Technologies has a 52-week low of $58.73 and a 52-week high of $81.88. The stock has a market capitalization of $4.89 billion, a P/E ratio of 36.97, a P/E/G ratio of 4.12 and a beta of 0.53. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is presently 21.92%.

Insider Transactions at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the sale, the director now directly owns 6,906 shares of the company’s stock, 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. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer upped their price target on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and set a $80.00 price target on shares of Ormat Technologies in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price target on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.67.

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.