News headlines about Ormat Technologies (NYSE:ORA) have trended somewhat positive this week, according to AlphaOne Sentiment Analysis. AlphaOne, a unit of Accern, identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Ormat Technologies earned a news sentiment score of 0.12 on AlphaOne’s scale. AlphaOne also assigned news headlines about the energy company an impact score of 55 out of 100, meaning that recent press coverage is somewhat likely to have an effect on the stock’s share price in the next several days.
These are some of the headlines that may have impacted Alpha One Sentiment’s scoring:
- Zacks: Brokerages Expect Ormat Technologies, Inc. (ORA) Will Announce Quarterly Sales of $169.72 Million (americanbankingnews.com)
- Should you purge Ormat Technologies Inc. (NYSE:ORA) from your holding? – FinancialsTrend (financialstrend.com)
- Insider Selling: Ormat Technologies, Inc. (ORA) VP Sells 3,074 Shares of Stock (americanbankingnews.com)
- Ormat Technologies, Inc. is trading above its 50 day moving average : ORA-US : June 15, 2017 (finance.yahoo.com)
- Ormat secures agreement for 150 MW of geothermal capacity (nnbw.com)
Shares of Ormat Technologies (ORA) traded down 0.16% during mid-day trading on Friday, reaching $60.73. 328,964 shares of the company’s stock traded hands. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 30.64 and a beta of 1.19. The company has a 50 day moving average of $58.76 and a 200 day moving average of $55.83. Ormat Technologies has a 12 month low of $41.12 and a 12 month high of $61.49.
Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Monday, May 8th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $189.90 million for the quarter, compared to analysts’ expectations of $177.42 million. Ormat Technologies had a return on equity of 10.05% and a net margin of 14.26%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. Analysts expect that Ormat Technologies will post $2.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, May 18th. Ormat Technologies’s payout ratio is 16.08%.
Several research analysts recently weighed in on ORA shares. Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research note on Saturday, March 4th. J P Morgan Chase & Co raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $65.00 to $71.00 in a research note on Wednesday, June 7th. Barclays PLC lifted their price objective on shares of Ormat Technologies from $43.00 to $54.00 and gave the stock an “underweight” rating in a research note on Monday, March 6th. Finally, BidaskClub raised shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $65.25.
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In other Ormat Technologies news, Director Robert F. Clarke sold 15,000 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $56.97, for a total transaction of $854,550.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $427,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shimon Hatzir sold 3,074 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $61.20, for a total value of $188,128.80. Following the transaction, the vice president now owns 3,074 shares in the company, valued at $188,128.80. The disclosure for this sale can be found here. Insiders have sold a total of 49,150 shares of company stock worth $2,855,153 over the last 90 days. Company insiders own 22.97% of the company’s stock.
Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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