Ormat Technologies, Inc. (ORA) Given Consensus Rating of “Buy” by Analysts
Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned an average rating of “Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $65.43.
Several equities research analysts have weighed in on ORA shares. Zacks Investment Research cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. BidaskClub cut shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $65.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a research report on Thursday, May 4th. Barclays PLC raised shares of Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $54.00 to $59.00 in a research report on Friday, May 26th. Finally, Cowen and Company set a $67.00 target price on shares of Ormat Technologies and gave the stock a “buy” rating in a research report on Monday, July 17th.
Ormat Technologies (NYSE ORA) traded up 0.46% during midday trading on Tuesday, reaching $56.41. 187,613 shares of the company’s stock traded hands. Ormat Technologies has a 52-week low of $45.30 and a 52-week high of $61.49. The company’s 50-day moving average price is $57.70 and its 200-day moving average price is $57.85. The stock has a market cap of $2.82 billion, a P/E ratio of 25.73 and a beta of 1.20.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The business had revenue of $179.36 million during the quarter, compared to analysts’ expectations of $169.80 million. Ormat Technologies had a net margin of 15.36% and a return on equity of 10.25%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 EPS. On average, equities analysts predict that Ormat Technologies will post $2.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. Ormat Technologies’s dividend payout ratio is 14.61%.
In other news, VP Nir Wolf sold 3,010 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $59.10, for a total value of $177,891.00. Following the completion of the sale, the vice president now directly owns 3,010 shares of the company’s stock, valued at approximately $177,891. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Eugene Joyal sold 7,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $57.75, for a total transaction of $433,125.00. Following the completion of the sale, the director now directly owns 7,500 shares of the company’s stock, valued at $433,125. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,062,154 shares of company stock valued at $630,605,768. Corporate insiders own 22.97% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning boosted its position in shares of Ormat Technologies by 43.9% in the first quarter. Creative Planning now owns 1,874 shares of the energy company’s stock worth $107,000 after buying an additional 572 shares during the period. Royal Bank of Canada boosted its position in shares of Ormat Technologies by 1.7% in the second quarter. Royal Bank of Canada now owns 2,008 shares of the energy company’s stock worth $117,000 after buying an additional 34 shares during the period. US Bancorp DE boosted its position in shares of Ormat Technologies by 33.6% in the first quarter. US Bancorp DE now owns 2,169 shares of the energy company’s stock worth $124,000 after buying an additional 545 shares during the period. Sei Investments Co. boosted its position in shares of Ormat Technologies by 2.2% in the second quarter. Sei Investments Co. now owns 2,266 shares of the energy company’s stock worth $133,000 after buying an additional 49 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Ormat Technologies by 16.6% in the first quarter. SG Americas Securities LLC now owns 2,285 shares of the energy company’s stock worth $130,000 after buying an additional 326 shares during the period. 45.33% of the stock is owned by institutional investors.
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. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
Receive News & Stock Ratings for Ormat Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ormat Technologies Inc. and related stocks with our FREE daily email newsletter.