Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Recommendation of “Moderate Buy” by Analysts

by · The Cerbat Gem

Shares of Ormat Technologies, Inc. (NYSE:ORAGet Free Report) have earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $117.6667.

Several analysts have issued reports on ORA shares. TD Cowen increased their price objective on shares of Ormat Technologies from $100.00 to $115.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. UBS Group raised their price target on shares of Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 7th. Cowen reaffirmed a “hold” rating on shares of Ormat Technologies in a research note on Wednesday, November 5th. Roth Capital reissued a “buy” rating and issued a $125.00 price objective on shares of Ormat Technologies in a research report on Wednesday, November 5th. Finally, Oppenheimer restated an “outperform” rating and set a $125.00 target price on shares of Ormat Technologies in a research note on Wednesday, November 5th.

Get Our Latest Stock Report on ORA

Ormat Technologies Stock Down 2.1%

Shares of NYSE ORA opened at $108.76 on Friday. The stock has a fifty day moving average price of $109.75 and a 200 day moving average price of $96.17. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.79. Ormat Technologies has a 12-month low of $61.58 and a 12-month high of $116.66. The company has a market cap of $6.61 billion, a P/E ratio of 49.89, a P/E/G ratio of 5.02 and a beta of 0.74.

Ormat Technologies (NYSE:ORAGet Free Report) last issued its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $249.73 million during the quarter, compared to the consensus estimate of $235.03 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. Research analysts anticipate that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, November 17th. This represents a $0.48 annualized dividend and a yield of 0.4%. Ormat Technologies’s payout ratio is currently 22.02%.

Insider Buying and Selling

In related news, CEO Doron Blachar sold 14,994 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $94.71, for a total value of $1,420,081.74. Following the sale, the chief executive officer directly owned 35,419 shares of the company’s stock, valued at $3,354,533.49. This represents a 29.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ravit Barniv sold 1,753 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $112.54, for a total transaction of $197,282.62. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 63,075 shares of company stock worth $6,708,505 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ormat Technologies

A number of institutional investors have recently modified their holdings of ORA. Jones Financial Companies Lllp grew its stake in shares of Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after buying an additional 113 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Ormat Technologies by 9.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,609 shares of the energy company’s stock valued at $135,000 after acquiring an additional 144 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Ormat Technologies by 4.3% in the third quarter. Crossmark Global Holdings Inc. now owns 3,803 shares of the energy company’s stock worth $366,000 after acquiring an additional 158 shares in the last quarter. Creative Planning grew its position in Ormat Technologies by 1.2% in the second quarter. Creative Planning now owns 13,526 shares of the energy company’s stock worth $1,133,000 after acquiring an additional 159 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Ormat Technologies by 17.1% during the 3rd quarter. CWM LLC now owns 1,098 shares of the energy company’s stock worth $106,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Company Profile

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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.

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