Roth Capital Has Negative Estimate for ORA FY2024 Earnings

Ormat Technologies, Inc. (NYSE:ORA) – Investment analysts at Roth Capital decreased their FY2024 earnings estimates for shares of Ormat Technologies in a research note issued to investors on Thursday, November 7th. Roth Capital analyst J. Clare now anticipates that the energy company will earn $1.88 per share for the year, down from their prior forecast of $1.96. The consensus estimate for Ormat Technologies’ current full-year earnings is $1.90 per share. Roth Capital also issued estimates for Ormat Technologies’ Q4 2024 earnings at $0.51 EPS, Q3 2025 earnings at $0.45 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.30 EPS and FY2026 earnings at $2.69 EPS.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS.

Several other research firms have also issued reports on ORA. Oppenheimer upped their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a report on Friday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Ormat Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

Ormat Technologies Stock Performance

NYSE ORA opened at $83.84 on Monday. The firm’s fifty day moving average price is $77.14 and its two-hundred day moving average price is $74.35. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $84.30. The firm has a market capitalization of $5.07 billion, a P/E ratio of 42.78, a price-to-earnings-growth ratio of 4.34 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Ormat Technologies’s payout ratio is presently 24.49%.

Insider Activity

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

Institutional Investors Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ORA. Blue Trust Inc. grew its stake in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after buying an additional 391 shares during the period. EntryPoint Capital LLC bought a new position in Ormat Technologies in the 1st quarter valued at approximately $50,000. Finally, DMC Group LLC acquired a new stake in Ormat Technologies during the 3rd quarter worth approximately $204,000. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Company Profile

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.