Ormat Technologies, Inc. (ORA) – What Are Researchers Saying About This Stock?

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $130.75.

A number of research firms have recently weighed in on ORA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research note on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Ormat Technologies in a report on Wednesday, September 9th. Zacks Research cut shares of Ormat Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $122.00 to $131.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Finally, Oppenheimer boosted their price objective on shares of Ormat Technologies from $141.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Main Street Group LTD acquired a new stake in Ormat Technologies in the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ormat Technologies in the fourth quarter valued at $31,000. Quantbot Technologies LP purchased a new position in shares of Ormat Technologies in the second quarter valued at $33,000. Allworth Financial LP acquired a new position in shares of Ormat Technologies during the 2nd quarter worth $40,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Ormat Technologies during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Stock Down 0.7%

Ormat Technologies stock opened at $91.04 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00. Ormat Technologies has a 1-year low of $87.06 and a 1-year high of $146.39. The company has a market cap of $5.60 billion, a PE ratio of 44.85, a price-to-earnings-growth ratio of 3.48 and a beta of 0.90. The stock’s 50 day moving average price is $100.37 and its 200 day moving average price is $112.12.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The firm had revenue of $258.76 million for the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%. Ormat Technologies’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, sell-side analysts predict that Ormat Technologies will post 2.63 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 19th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.65%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a renewable energy company that develops, owns, and operates clean energy assets. The company’s primary business is geothermal power, using heat from the earth to generate electricity. It also provides recovered energy solutions that convert waste heat from industrial processes into power.

Ormat’s portfolio includes geothermal, recovered energy, solar photovoltaic, and energy storage projects. In addition to owning and operating power plants, the company designs and manufactures equipment for geothermal and recovered energy applications and provides related engineering, construction, and operation services.

Founded in 1965, Ormat serves customers and markets in the United States and internationally.