Ormat Technologies Inc. (ORA) Expected to Post Q1 2017 Earnings of $0.50 Per Share
Ormat Technologies Inc. (NYSE:ORA) – Equities researchers at Roth Capital issued their Q1 2017 earnings per share (EPS) estimates for shares of Ormat Technologies in a research report issued on Thursday. Roth Capital analyst G. Sweeney anticipates that the firm will earn $0.50 per share for the quarter. Roth Capital currently has a “Buy” rating and a $50.00 price target on the stock. Roth Capital also issued estimates for Ormat Technologies’ Q2 2017 earnings at $0.51 EPS, Q3 2017 earnings at $0.52 EPS and Q4 2017 earnings at $0.49 EPS.
ORA has been the subject of several other research reports. Oppenheimer Holdings Inc. started coverage on Ormat Technologies in a research report on Thursday, September 8th. They issued an “outperform” rating and a $54.00 price target for the company. Zacks Investment Research lowered Ormat Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Ormat Technologies in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $46.80.
Shares of Ormat Technologies (NYSE:ORA) opened at 46.67 on Friday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 25.97 and a beta of 1.10. Ormat Technologies has a 12-month low of $32.25 and a 12-month high of $51.19. The firm’s 50-day moving average is $47.61 and its 200 day moving average is $45.89.
Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Monday, November 7th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The business had revenue of $184 million for the quarter, compared to the consensus estimate of $163.66 million. Ormat Technologies had a net margin of 13.29% and a return on equity of 9.45%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share.
Large investors have recently added to or reduced their stakes in the company. Convergence Investment Partners LLC acquired a new stake in Ormat Technologies during the third quarter valued at approximately $714,000. Morgan Stanley increased its stake in Ormat Technologies by 40.6% in the third quarter. Morgan Stanley now owns 60,803 shares of the company’s stock worth $2,943,000 after buying an additional 17,550 shares in the last quarter. Principal Financial Group Inc. increased its stake in Ormat Technologies by 6.5% in the third quarter. Principal Financial Group Inc. now owns 9,043 shares of the company’s stock worth $438,000 after buying an additional 548 shares in the last quarter. Northern Trust Corp increased its stake in Ormat Technologies by 1.0% in the third quarter. Northern Trust Corp now owns 454,021 shares of the company’s stock worth $21,979,000 after buying an additional 4,460 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Ormat Technologies by 1.0% in the third quarter. California State Teachers Retirement System now owns 82,372 shares of the company’s stock worth $3,988,000 after buying an additional 800 shares in the last quarter. Institutional investors own 41.34% of the company’s stock.
In related news, Director Robert F. Clarke sold 22,500 shares of Ormat Technologies stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $47.74, for a total value of $1,074,150.00. Following the completion of the sale, the director now directly owns 7,500 shares in the company, valued at approximately $358,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gillon Beck sold 390,000 shares of Ormat Technologies stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $48.64, for a total value of $18,969,600.00. The disclosure for this sale can be found here. 22.97% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 21st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.28 annualized dividend and a yield of 0.60%. Ormat Technologies’s payout ratio is 15.73%.
Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment.
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