Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus Rating of “Moderate Buy” from Brokerages

21 Oct 2024, 08:56 by Tristan Rich · The Markets Daily

Shares of Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) have earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $81.67.

ORA has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Roth Mkm restated a “buy” rating and set a $80.00 price target on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th.

View Our Latest Analysis on Ormat Technologies

Ormat Technologies Price Performance

Shares of ORA opened at $78.31 on Monday. The company has a 50 day moving average of $74.90 and a two-hundred day moving average of $72.41. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Ormat Technologies has a twelve month low of $58.73 and a twelve month high of $78.89. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 3.97 and a beta of 0.53.

Ormat Technologies (NYSE:ORA – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The firm had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 yield of 0.61%. The ex-dividend date of this dividend was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is presently 21.62%.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 433 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now owns 3,561 shares in the company, valued at $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now directly owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Several large investors have recently made changes to their positions in ORA. Wellington Management Group LLP increased its holdings in Ormat Technologies by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company’s stock valued at $78,910,000 after buying an additional 35,665 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Ormat Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,324,628 shares of the energy company’s stock valued at $403,554,000 after purchasing an additional 39,172 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Ormat Technologies by 50.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after purchasing an additional 514 shares during the period. Bridge Creek Capital Management LLC boosted its position in Ormat Technologies by 2.8% during the first quarter. Bridge Creek Capital Management LLC now owns 36,831 shares of the energy company’s stock worth $2,438,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in Ormat Technologies by 54.6% in the first quarter. Ballentine Partners LLC now owns 7,182 shares of the energy company’s stock valued at $475,000 after purchasing an additional 2,537 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Company Profile

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