Ormat Technologies (ORA) Set to Announce Quarterly Earnings on Wednesday

Ormat Technologies (NYSE:ORA) is scheduled to be posting 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 EPS 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 net margin of 15.00% and a return on equity of 5.09%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 earnings per share. 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 $67.50 on Monday. The stock has a market cap of $4.08 billion, a PE ratio of 32.30, 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. Ormat Technologies has a 52-week low of $58.73 and a 52-week high of $88.26. The firm has a 50-day moving average of $64.85 and a 200-day moving average of $66.88.

Ormat Technologies Announces Dividend

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

Insider Transactions at Ormat Technologies

In related news, Director Stanley Stern sold 1,825 shares of the firm’s 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 sale, the director now directly owns 4,835 shares of the company’s stock, valued at $323,703.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ORA. TD Cowen reduced their price target on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, February 23rd. Barclays decreased their price target on shares of 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. Finally, Oppenheimer cut their price objective on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ormat Technologies presently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.