What is Roth Capital’s Estimate for ORA FY2024 Earnings?

Ormat Technologies, Inc. (NYSE:ORA) – Analysts at Roth Capital cut their FY2024 earnings per share estimates for shares of Ormat Technologies in a research note issued on Thursday, October 24th. Roth Capital analyst J. Clare now anticipates that the energy company will earn $1.96 per share for the year, down from their previous estimate of $2.05. The consensus estimate for Ormat Technologies’ current full-year earnings is $1.91 per share.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share 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 in the prior year, the business earned $0.40 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis.

A number of other research firms have also recently commented on ORA. Oppenheimer upped their price target 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. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $80.00 price objective on shares of Ormat Technologies in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Ormat Technologies Stock Performance

NYSE:ORA opened at $81.45 on Monday. The stock’s 50 day simple moving average is $75.65 and its two-hundred day simple moving average is $73.08. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $81.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 4.12 and a beta of 0.53.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is presently 21.92%.

Insider Activity at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the firm’s 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 sale, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now directly owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ormat Technologies

A number of hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama grew its position in Ormat Technologies by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company’s stock valued at $4,465,000 after buying an additional 177 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after acquiring an additional 229 shares during the period. Harrington Investments INC raised its holdings in Ormat Technologies by 3.0% during the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock worth $570,000 after purchasing an additional 230 shares in the last quarter. Arizona State Retirement System lifted its position in Ormat Technologies by 1.9% in the second quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock valued at $1,091,000 after purchasing an additional 286 shares during the period. Finally, State of Michigan Retirement System lifted its position in Ormat Technologies by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,200 shares of the energy company’s stock valued at $874,000 after purchasing an additional 300 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.