Ormat Technologies, Inc. (ORA) Expected to Announce Quarterly Sales of $175.53 Million

Equities research analysts expect that Ormat Technologies, Inc. (NYSE:ORA) will report sales of $175.53 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ormat Technologies’ earnings. The highest sales estimate is $176.38 million and the lowest is $174.70 million. Ormat Technologies reported sales of $178.30 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The firm is scheduled to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that Ormat Technologies will report full year sales of $733.08 million for the current fiscal year, with estimates ranging from $731.20 million to $735.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $809.60 million, with estimates ranging from $791.80 million to $831.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Ormat Technologies.

Ormat Technologies (NYSE:ORA) last released its earnings results on Monday, May 6th. The energy company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Ormat Technologies had a return on equity of 5.86% and a net margin of 7.41%. The company had revenue of $199.04 million for the quarter, compared to the consensus estimate of $183.62 million. During the same quarter last year, the business posted $0.48 EPS. Ormat Technologies’s quarterly revenue was up 8.2% compared to the same quarter last year.

ORA has been the topic of several analyst reports. ValuEngine upgraded Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. lowered Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 price target for the company. in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Ormat Technologies presently has a consensus rating of “Hold” and an average price target of $64.25.

Hedge funds and other institutional investors have recently modified their holdings of the business. Clean Yield Group purchased a new stake in shares of Ormat Technologies during the fourth quarter worth $51,000. Strs Ohio purchased a new stake in shares of Ormat Technologies during the fourth quarter worth $52,000. Private Capital Group LLC raised its holdings in shares of Ormat Technologies by 28.2% during the first quarter. Private Capital Group LLC now owns 941 shares of the energy company’s stock worth $52,000 after acquiring an additional 207 shares in the last quarter. Psagot Investment House Ltd. raised its holdings in shares of Ormat Technologies by 16.5% during the fourth quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock worth $120,000 after acquiring an additional 326 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ormat Technologies by 15.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock worth $197,000 after acquiring an additional 506 shares in the last quarter. 75.48% of the stock is owned by hedge funds and other institutional investors.

Shares of Ormat Technologies stock traded up $0.27 on Monday, reaching $61.43. 2,686 shares of the company were exchanged, compared to its average volume of 141,806. The company has a current ratio of 1.57, a quick ratio of 1.41 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.90 and a beta of 1.27. Ormat Technologies has a 1-year low of $45.79 and a 1-year high of $61.52.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, May 17th. Ormat Technologies’s payout ratio is currently 21.15%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.

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