Wall Street analysts forecast that Ormat Technologies, Inc. (NYSE:ORA) will announce earnings per share of $0.54 for the current quarter, Zacks reports. Three analysts have made estimates for Ormat Technologies’ earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.42. Ormat Technologies reported earnings of $1.29 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 58.1%. The firm is scheduled to issue its next earnings results on Friday, March 15th.

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

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

Several brokerages have recently commented on ORA. ValuEngine upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. TheStreet cut shares of Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $64.00 to $60.00 in a research report on Thursday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.80.

Shares of NYSE:ORA traded down $1.62 during midday trading on Friday, hitting $54.07. The stock had a trading volume of 401,755 shares, compared to its average volume of 225,248. The stock has a market capitalization of $2.82 billion, a PE ratio of 18.08, a PEG ratio of 3.04 and a beta of 1.51. 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 fifty-two week low of $45.79 and a fifty-two week high of $70.68.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 20th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Monday, November 19th. Ormat Technologies’s payout ratio is presently 13.38%.

In related news, EVP Bob Sullivan sold 20,329 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $56.94, for a total transaction of $1,157,533.26. Following the completion of the transaction, the executive vice president now directly owns 23,329 shares in the company, valued at approximately $1,328,353.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Granot sold 759 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $54.00, for a total transaction of $40,986.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,550 shares of company stock valued at $1,222,541. 0.50% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Atlantic Trust LLC acquired a new position in Ormat Technologies during the 3rd quarter worth approximately $108,000. Highland Capital Management LP acquired a new position in Ormat Technologies during the 3rd quarter worth approximately $216,000. AQR Capital Management LLC acquired a new position in Ormat Technologies during the 3rd quarter worth approximately $278,000. Royal Bank of Canada increased its position in Ormat Technologies by 103.6% during the 1st quarter. Royal Bank of Canada now owns 5,445 shares of the energy company’s stock worth $307,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Green Square Capital LLC acquired a new position in Ormat Technologies during the 2nd quarter worth approximately $298,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

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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