Wall Street analysts expect Ormat Technologies, Inc. (NYSE:ORA) to report $176.06 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Ormat Technologies’ earnings. The lowest sales estimate is $173.07 million and the highest is $179.30 million. Ormat Technologies reported sales of $179.36 million during the same quarter last year, which indicates a negative year over year growth rate of 1.8%. The company is expected to issue its next earnings report after the market closes on Tuesday, August 7th.
On average, analysts expect that Ormat Technologies will report full-year sales of $720.81 million for the current year, with estimates ranging from $711.63 million to $727.10 million. For the next fiscal year, analysts expect that the business will post sales of $768.14 million per share, with estimates ranging from $764.61 million to $774.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ormat Technologies.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, May 7th. The energy company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.09). The business had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $176.72 million. Ormat Technologies had a net margin of 24.00% and a return on equity of 11.03%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 EPS.
A number of research analysts recently commented on the company. JPMorgan Chase & Co. downgraded Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Monday, May 14th. Zacks Investment Research raised Ormat Technologies from a “sell” rating to a “hold” rating in a report on Thursday, June 7th. ValuEngine downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Oppenheimer reaffirmed a “market perform” rating on shares of Ormat Technologies in a report on Friday, April 6th. They noted that the move was a valuation call. Finally, Guggenheim downgraded Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $66.00.
Ormat Technologies traded down $0.34, reaching $52.94, on Monday, according to Marketbeat Ratings. The company’s stock had a trading volume of 188,075 shares, compared to its average volume of 240,411. The company has a market capitalization of $2.66 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.38 and a beta of 1.34. Ormat Technologies has a 1 year low of $50.20 and a 1 year high of $70.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.47 and a current ratio of 1.57.
In other Ormat Technologies news, VP Erez Klein sold 4,120 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $54.50, for a total transaction of $224,540.00. Following the transaction, the vice president now owns 4,120 shares of the company’s stock, valued at approximately $224,540. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Ormat Technologies by 6.1% during the 1st quarter. Principal Financial Group Inc. now owns 16,849 shares of the energy company’s stock worth $950,000 after purchasing an additional 976 shares during the period. SG Americas Securities LLC raised its position in shares of Ormat Technologies by 37.1% during the 1st quarter. SG Americas Securities LLC now owns 3,946 shares of the energy company’s stock worth $222,000 after purchasing an additional 1,068 shares during the period. Penn Capital Management Co. Inc. raised its position in shares of Ormat Technologies by 2.7% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 44,562 shares of the energy company’s stock worth $2,463,000 after purchasing an additional 1,159 shares during the period. Swiss National Bank raised its position in shares of Ormat Technologies by 2.3% during the 1st quarter. Swiss National Bank now owns 65,334 shares of the energy company’s stock worth $3,684,000 after purchasing an additional 1,500 shares during the period. Finally, Xact Kapitalforvaltning AB raised its position in shares of Ormat Technologies by 37.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,944 shares of the energy company’s stock worth $369,000 after purchasing an additional 1,900 shares during the period. 70.73% of the stock is currently owned by institutional investors.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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