Equities analysts expect Ormat Technologies, Inc. (NYSE:ORA) to post earnings per share (EPS) of $0.54 for the current quarter, Zacks reports. Three analysts have made estimates for Ormat Technologies’ earnings. The lowest EPS estimate is $0.42 and the highest is $0.63. Ormat Technologies posted earnings per share of $1.29 in the same quarter last year, which would indicate a negative year over year growth rate of 58.1%. The firm is scheduled to announce its next earnings report on Friday, March 15th.

On average, analysts expect that Ormat Technologies will report full-year earnings of $2.09 per share for the current year, with EPS estimates ranging from $1.99 to $2.19. For the next fiscal year, analysts forecast that the company will report earnings of $2.22 per share, with EPS estimates ranging from $2.04 to $2.41. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Ormat Technologies.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Tuesday, November 6th. The energy company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.13). The firm had revenue of $166.50 million for the quarter, compared to the consensus estimate of $172.97 million. Ormat Technologies had a return on equity of 8.86% and a net margin of 17.39%. Ormat Technologies’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS.

A number of brokerages have recently weighed in on ORA. JPMorgan Chase & Co. upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $64.00 to $60.00 in a research note on Thursday, August 9th. ValuEngine upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. TheStreet lowered Ormat Technologies from a “b-” rating to a “c+” rating in a research note on Thursday, August 9th. Finally, Zacks Investment Research upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $64.80.

In other news, EVP Bob Sullivan sold 20,329 shares of Ormat Technologies stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $56.94, for a total value of $1,157,533.26. Following the transaction, the executive vice president now owns 23,329 shares in the company, valued at approximately $1,328,353.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 20,791 shares of company stock worth $1,181,555. Corporate insiders own 0.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ORA. Principal Financial Group Inc. boosted its holdings in shares of Ormat Technologies by 6.1% during the 1st quarter. Principal Financial Group Inc. now owns 16,849 shares of the energy company’s stock valued at $950,000 after acquiring an additional 976 shares in the last quarter. Yorktown Management & Research Co Inc boosted its holdings in shares of Ormat Technologies by 23.9% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 5,700 shares of the energy company’s stock valued at $308,000 after acquiring an additional 1,100 shares in the last quarter. Penn Capital Management Co. Inc. boosted its holdings in shares of Ormat Technologies by 2.7% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 44,562 shares of the energy company’s stock valued at $2,463,000 after acquiring an additional 1,159 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ormat Technologies by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 41,048 shares of the energy company’s stock valued at $2,183,000 after acquiring an additional 1,307 shares in the last quarter. Finally, United Services Automobile Association boosted its holdings in shares of Ormat Technologies by 27.0% during the 3rd quarter. United Services Automobile Association now owns 7,353 shares of the energy company’s stock valued at $398,000 after acquiring an additional 1,562 shares in the last quarter. Institutional investors own 72.61% of the company’s stock.

Shares of NYSE ORA traded up $0.76 during trading hours on Thursday, reaching $51.99. 116,100 shares of the stock were exchanged, compared to its average volume of 228,657. The firm has a market cap of $2.64 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.84 and a beta of 1.46. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.67. Ormat Technologies has a 52 week low of $45.79 and a 52 week high of $70.68.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 20th will be paid a $0.10 dividend. The ex-dividend date is Monday, November 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. Ormat Technologies’s payout ratio is 13.38%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.

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