Ormat Technologies (ORA) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ormat Technologies (NYSE:ORA) announced its earnings results on Monday, May 6th. The energy company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01, Briefing.com reports. Ormat Technologies had a net margin of 7.41% and a return on equity of 5.86%. The business had revenue of $199.04 million during the quarter, compared to the consensus estimate of $183.62 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Ormat Technologies updated its FY 2019 guidance to EPS.

NYSE:ORA traded down $0.03 during mid-day trading on Thursday, reaching $58.48. The stock had a trading volume of 82,336 shares, compared to its average volume of 156,389. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 0.78. The company has a market cap of $2.98 billion, a P/E ratio of 28.12, a PEG ratio of 2.78 and a beta of 1.27. Ormat Technologies has a twelve month low of $45.79 and a twelve month high of $61.60.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were given a $0.11 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.44 dividend on an annualized basis and a yield of 0.75%. Ormat Technologies’s payout ratio is currently 21.15%.

Several brokerages have recently weighed in on ORA. ValuEngine upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. downgraded shares of Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.33.

A number of large investors have recently made changes to their positions in ORA. Clean Yield Group acquired a new stake in Ormat Technologies in the fourth quarter valued at about $51,000. Strs Ohio acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at approximately $52,000. Private Capital Group LLC lifted its position in shares of Ormat Technologies by 28.2% during the 1st quarter. Private Capital Group LLC now owns 941 shares of the energy company’s stock valued at $52,000 after acquiring an additional 207 shares during the period. Psagot Investment House Ltd. lifted its position in shares of Ormat Technologies by 16.5% during the 4th quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock valued at $120,000 after acquiring an additional 326 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ormat Technologies by 15.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after acquiring an additional 506 shares during the period. Hedge funds and other institutional investors own 75.09% of the company’s stock.

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Ormat Technologies Company Profile

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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Earnings History for Ormat Technologies (NYSE:ORA)

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