Ormat Technologies (ORA) Scheduled to Post Quarterly Earnings on Tuesday

Ormat Technologies (NYSE:ORA) will release its earnings data after the market closes on Tuesday, August 6th. Analysts expect Ormat Technologies to post earnings of $0.41 per share for the quarter. Ormat Technologies has set its FY 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, May 8th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.03). Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. The company had revenue of $224.17 million for the quarter, compared to the consensus estimate of $224.38 million. On average, analysts expect Ormat Technologies to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $75.41 on Monday. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 3.87 and a beta of 0.51. The firm has a fifty day moving average price of $73.97 and a 200 day moving average price of $68.93. Ormat Technologies has a fifty-two week low of $58.73 and a fifty-two week high of $81.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.02 and a current ratio of 1.12.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 21st. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

Insider Buying and Selling at Ormat Technologies

In other news, Director David Granot sold 686 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the sale, the director now owns 4,832 shares in the company, valued at approximately $354,958.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ORA shares. Oppenheimer boosted their target price on Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. TD Cowen increased their target price on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, May 10th. UBS Group raised their target price on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Barclays decreased their price target on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ormat Technologies presently has an average rating of “Hold” and a consensus price target of $83.50.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.