Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $92.29.
ORA has been the topic of several research reports. Barclays initiated coverage on shares of Ormat Technologies in a research report on Monday, May 22nd. They set an “equal weight” rating and a $89.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $86.00 to $89.00 in a research report on Wednesday, July 19th. TheStreet downgraded shares of Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. Roth Capital upgraded shares of Ormat Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, August 7th. Finally, StockNews.com initiated coverage on shares of Ormat Technologies in a research report on Thursday, August 17th. They set a “sell” rating on the stock.
Insider Buying and Selling at Ormat Technologies
Institutional Trading of Ormat Technologies
Large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in Ormat Technologies by 1.5% during the 1st quarter. Rhumbline Advisers now owns 168,295 shares of the energy company’s stock worth $14,266,000 after purchasing an additional 2,426 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Ormat Technologies during the 4th quarter worth approximately $234,000. Mutual of America Capital Management LLC increased its stake in Ormat Technologies by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 42,215 shares of the energy company’s stock worth $3,579,000 after purchasing an additional 2,186 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Ormat Technologies by 71.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the energy company’s stock worth $198,000 after purchasing an additional 976 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Ormat Technologies by 6.4% during the 1st quarter. Citigroup Inc. now owns 50,067 shares of the energy company’s stock worth $4,244,000 after purchasing an additional 3,003 shares in the last quarter. 88.24% of the stock is owned by institutional investors.
Ormat Technologies Stock Down 1.2 %
ORA opened at $74.59 on Friday. The firm’s 50-day simple moving average is $78.36 and its 200-day simple moving average is $82.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.69 and a current ratio of 1.79. Ormat Technologies has a twelve month low of $74.04 and a twelve month high of $101.81. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 1.52 and a beta of 0.45.
Ormat Technologies (NYSE:ORA – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Ormat Technologies had a net margin of 11.74% and a return on equity of 5.17%. The business had revenue of $194.80 million for the quarter, compared to analyst estimates of $196.74 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies will post 2.14 EPS for the current fiscal year.
Ormat Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. Ormat Technologies’s payout ratio is presently 30.97%.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.
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