Ormat Technologies (ORA) Scheduled to Post Earnings on Wednesday

Ormat Technologies (NYSE:ORA) will post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Ormat Technologies to post earnings of $0.68 per share for the quarter. Ormat Technologies has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. On average, analysts expect Ormat Technologies to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ormat Technologies Stock Performance

NYSE ORA opened at $67.64 on Tuesday. The company has a market cap of $4.09 billion, a P/E ratio of 32.36, a P/E/G ratio of 3.16 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The business’s 50 day moving average price is $64.93 and its 200-day moving average price is $66.88. Ormat Technologies has a fifty-two week low of $58.73 and a fifty-two week high of $88.26.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio is currently 22.97%.

Analyst Ratings Changes

A number of research firms have weighed in on ORA. Barclays reduced their target price on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, February 5th. Oppenheimer lowered their price objective on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Finally, TD Cowen reduced their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $81.00.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the transaction, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Ormat Technologies Company Profile

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.