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

Ormat Technologies (NYSE:ORA) will release its earnings data 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.Persons that wish to register for the company’s earnings conference call can do so using this link.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $241.30 million during the quarter, compared to analyst estimates of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. Ormat Technologies’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted $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 Up 1.2 %

Shares of NYSE:ORA opened at $67.50 on Monday. The stock’s 50-day moving average is $64.85 and its 200 day moving average is $66.88. The company 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 current ratio of 1.20 and a quick ratio of 1.12. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $88.26.

Ormat Technologies Dividend Announcement

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

Insider Transactions at Ormat Technologies

In related news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now directly owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

ORA has been the subject of a number of research analyst reports. Barclays dropped their price target on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, February 5th. Oppenheimer dropped their target price 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 decreased their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $81.00.

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.