Ormat Technologies, Inc. (NYSE:ORA) has earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $66.71.
A number of research analysts have commented on the company. Cowen set a $67.00 target price on Ormat Technologies and gave the stock a “buy” rating in a report on Friday, August 18th. TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Oppenheimer reaffirmed a “buy” rating and set a $70.00 target price (up previously from $65.00) on shares of Ormat Technologies in a report on Wednesday, September 27th. Roth Capital set a $70.00 target price on Ormat Technologies and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, August 8th.
In related news, SVP Etty Rosner sold 9,983 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $60.23, for a total value of $601,276.09. Following the sale, the senior vice president now owns 9,983 shares of the company’s stock, valued at approximately $601,276.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bob Sullivan sold 9,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $62.89, for a total value of $621,982.10. Following the completion of the sale, the executive vice president now directly owns 9,890 shares in the company, valued at approximately $621,982.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,359 shares of company stock worth $5,013,332. 14.74% of the stock is currently owned by company insiders.
Shares of Ormat Technologies (NYSE:ORA) traded down $0.41 on Thursday, reaching $62.98. The company had a trading volume of 121,899 shares, compared to its average volume of 179,920. The stock has a market capitalization of $3,263.51, a P/E ratio of 28.54, a P/E/G ratio of 2.17 and a beta of 1.23. Ormat Technologies has a 1 year low of $47.40 and a 1 year high of $66.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.72 and a quick ratio of 1.62.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, November 7th. The energy company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.06). The business had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $159.02 million. Ormat Technologies had a net margin of 16.99% and a return on equity of 9.41%. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. sell-side analysts anticipate that Ormat Technologies will post 2.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, November 20th. Ormat Technologies’s dividend payout ratio is presently 13.73%.
About Ormat Technologies
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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