Roth Capital Issues Pessimistic Outlook for ORA Earnings

Ormat Technologies, Inc. (NYSE:ORA) – Roth Capital decreased their Q3 2024 earnings estimates for Ormat Technologies in a report issued on Thursday, October 24th. Roth Capital analyst J. Clare now anticipates that the energy company will post earnings per share of $0.31 for the quarter, down from their prior forecast of $0.35. The consensus estimate for Ormat Technologies’ current full-year earnings is $1.94 per share. Roth Capital also issued estimates for Ormat Technologies’ Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.80 EPS, FY2025 earnings at $2.41 EPS and FY2026 earnings at $2.80 EPS.

Several other equities research analysts have also issued reports on ORA. JPMorgan Chase & Co. raised their target price on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Roth Mkm restated a “buy” rating and set a $80.00 price target on shares of Ormat Technologies in a research report on Monday, August 12th. Finally, Oppenheimer raised their price objective on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Ormat Technologies Stock Performance

Shares of ORA opened at $78.87 on Friday. The stock has a 50 day moving average of $75.51 and a 200 day moving average of $72.91. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 4.10 and a beta of 0.53. Ormat Technologies has a 12 month low of $58.73 and a 12 month high of $80.53. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million for the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter last year, the firm earned $0.40 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.61%. Ormat Technologies’s payout ratio is presently 21.92%.

Insiders Place Their Bets

In other news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares in the company, valued at $266,754.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares in the company, valued at $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in Ormat Technologies by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after acquiring an additional 229 shares during the period. UMB Bank n.a. boosted its stake in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after purchasing an additional 320 shares during the period. GAMMA Investing LLC grew its holdings in shares of Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after purchasing an additional 391 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Ormat Technologies in the first quarter worth $50,000. Finally, PNC Financial Services Group Inc. raised its holdings in Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after buying an additional 514 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

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.