Roth Capital Expects Lower Earnings for Ormat Technologies

Ormat Technologies, Inc. (NYSE:ORA) – Roth Capital decreased their Q3 2024 EPS estimates for shares of Ormat Technologies in a research note issued to investors on Thursday, October 24th. Roth Capital analyst J. Clare now expects that the energy company will post earnings per share of $0.31 for the quarter, down from their previous 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.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share 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 firm had revenue of $212.96 million for the quarter, compared to the consensus estimate of $214.07 million. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue was up 9.3% compared to the same quarter last year.

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

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $78.87 on Friday. The stock has a market cap of $4.77 billion, a PE ratio of 36.01, a P/E/G ratio of 4.10 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Ormat Technologies has a 12-month low of $58.73 and a 12-month high of $80.53. The business’s 50-day moving average price is $75.51 and its two-hundred day moving average price is $72.91.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. Ormat Technologies’s dividend payout ratio is 21.92%.

Insider Activity at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of the firm’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 directly owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This represents 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 currently owned by company insiders.

Hedge Funds Weigh In On Ormat Technologies

Institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in Ormat Technologies by 15.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,778 shares of the energy company’s stock valued at $9,583,000 after purchasing an additional 19,797 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ormat Technologies by 48.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,104 shares of the energy company’s stock worth $4,574,000 after acquiring an additional 22,413 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Ormat Technologies in the 1st quarter valued at about $631,000. Mizuho Markets Americas LLC lifted its position in Ormat Technologies by 23.6% in the 1st quarter. Mizuho Markets Americas LLC now owns 133,198 shares of the energy company’s stock valued at $8,816,000 after acquiring an additional 25,438 shares in the last quarter. Finally, Dudley & Shanley Inc. boosted its stake in Ormat Technologies by 300.0% during the 1st quarter. Dudley & Shanley Inc. now owns 36,400 shares of the energy company’s stock valued at $2,409,000 after purchasing an additional 27,300 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.