Analysts expect that Ormat Technologies, Inc. (NYSE:ORA) will announce $175.78 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Ormat Technologies’ earnings, with estimates ranging from $172.80 million to $179.43 million. Ormat Technologies reported sales of $157.19 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.8%. The business is expected to report its next quarterly earnings results on Tuesday, November 6th.

On average, analysts expect that Ormat Technologies will report full-year sales of $711.67 million for the current financial year, with estimates ranging from $708.81 million to $714.60 million. For the next financial year, analysts expect that the company will post sales of $757.69 million per share, with estimates ranging from $753.10 million to $760.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Ormat Technologies.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, August 7th. The energy company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.17). The business had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $176.06 million. Ormat Technologies had a net margin of 18.88% and a return on equity of 9.60%.

ORA has been the subject of a number of analyst reports. Roth Capital set a $67.00 price target on Ormat Technologies and gave the company a “buy” rating in a report on Sunday, May 20th. Zacks Investment Research raised Ormat Technologies from a “sell” rating to a “hold” rating in a report on Thursday, June 7th. Guggenheim downgraded Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Wednesday, June 13th. JPMorgan Chase & Co. raised Ormat Technologies from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $64.00 to $60.00 in a report on Thursday, August 9th. Finally, TheStreet downgraded Ormat Technologies from a “b-” rating to a “c+” rating in a report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $65.67.

ORA traded down $0.95 on Wednesday, reaching $55.03. The company’s stock had a trading volume of 221,500 shares, compared to its average volume of 232,580. The company has a market capitalization of $2.81 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.91 and a beta of 1.48. Ormat Technologies has a 1 year low of $45.79 and a 1 year high of $70.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.16.

The company also recently announced a dividend, which was paid on Tuesday, August 21st. Shareholders of record on Tuesday, August 21st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 20th. Ormat Technologies’s dividend payout ratio is presently 13.38%.

In other Ormat Technologies news, VP Erez Klein sold 4,120 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $54.50, for a total transaction of $224,540.00. Following the transaction, the vice president now owns 4,120 shares of the company’s stock, valued at approximately $224,540. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ORA. Wells Fargo & Company MN lifted its holdings in Ormat Technologies by 124.9% during the 1st quarter. Wells Fargo & Company MN now owns 132,948 shares of the energy company’s stock worth $7,495,000 after buying an additional 73,825 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Ormat Technologies by 37.1% during the 1st quarter. SG Americas Securities LLC now owns 3,946 shares of the energy company’s stock worth $222,000 after buying an additional 1,068 shares during the last quarter. Trexquant Investment LP bought a new position in Ormat Technologies during the 1st quarter worth approximately $982,000. Swiss National Bank lifted its holdings in shares of Ormat Technologies by 2.3% in the 1st quarter. Swiss National Bank now owns 65,334 shares of the energy company’s stock worth $3,684,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Ormat Technologies by 10.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 220,496 shares of the energy company’s stock worth $12,432,000 after purchasing an additional 20,092 shares during the last quarter. 72.88% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Ormat Technologies (NYSE:ORA)

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