$174.20 Million in Sales Expected for Ormat Technologies, Inc. (NYSE:ORA) This Quarter

Brokerages expect Ormat Technologies, Inc. (NYSE:ORAGet Rating) to post $174.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ormat Technologies’ earnings. The highest sales estimate is $179.50 million and the lowest is $165.60 million. Ormat Technologies reported sales of $166.35 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Ormat Technologies will report full-year sales of $734.75 million for the current financial year, with estimates ranging from $730.80 million to $737.10 million. For the next year, analysts expect that the company will post sales of $877.45 million, with estimates ranging from $868.60 million to $883.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Ormat Technologies.

Ormat Technologies (NYSE:ORAGet Rating) last issued its earnings results on Wednesday, February 23rd. The energy company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. Ormat Technologies had a return on equity of 3.94% and a net margin of 9.36%. The business had revenue of $191.00 million during the quarter, compared to the consensus estimate of $183.08 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year.

A number of brokerages have recently issued reports on ORA. JPMorgan Chase & Co. dropped their price target on Ormat Technologies from $82.00 to $73.00 in a research report on Thursday, January 20th. Bank of America downgraded Ormat Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $94.00 to $75.00 in a research report on Wednesday, January 26th. TheStreet upgraded Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, April 7th. StockNews.com began coverage on Ormat Technologies in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Oppenheimer dropped their price target on Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, February 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.20.

In other Ormat Technologies news, Director Stanley Stern sold 7,500 shares of Ormat Technologies stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $80.85, for a total value of $606,375.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ORA. Concord Wealth Partners increased its stake in shares of Ormat Technologies by 286.0% during the fourth quarter. Concord Wealth Partners now owns 660 shares of the energy company’s stock valued at $52,000 after buying an additional 489 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Ormat Technologies by 38.6% during the third quarter. Geneos Wealth Management Inc. now owns 880 shares of the energy company’s stock valued at $59,000 after buying an additional 245 shares during the period. Strs Ohio increased its stake in shares of Ormat Technologies by 800.0% during the third quarter. Strs Ohio now owns 900 shares of the energy company’s stock valued at $59,000 after buying an additional 800 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $111,000. Finally, Wetherby Asset Management Inc. purchased a new position in shares of Ormat Technologies during the fourth quarter valued at approximately $201,000. 90.76% of the stock is currently owned by institutional investors and hedge funds.

NYSE ORA traded up $1.34 during trading hours on Monday, hitting $86.25. The company had a trading volume of 319,709 shares, compared to its average volume of 406,230. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 78.07, a PEG ratio of 4.01 and a beta of 0.45. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.11. The firm has a 50 day simple moving average of $75.50 and a 200 day simple moving average of $74.88. Ormat Technologies has a 52 week low of $60.32 and a 52 week high of $86.96.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Wednesday, March 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.56%. Ormat Technologies’s dividend payout ratio is 43.64%.

Ormat Technologies Company Profile (Get Rating)

Ormat Technologies, Inc operates as a holding company. The firm engages in the geothermal and recovered energy power businesses. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses on the sale of electricity from the company’s power plants pursuant to power purchase agreements.

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