Ormat Technologies, Inc. (NYSE:ORA) has received a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $66.33.
ORA has been the topic of several research reports. JPMorgan Chase & Co. downgraded Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, March 6th. ValuEngine downgraded Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd.
A number of large investors have recently bought and sold shares of ORA. Clean Yield Group purchased a new stake in Ormat Technologies in the fourth quarter valued at $51,000. Strs Ohio purchased a new stake in Ormat Technologies in the fourth quarter valued at $52,000. Atlantic Trust LLC purchased a new stake in Ormat Technologies in the third quarter valued at $108,000. Psagot Investment House Ltd. boosted its holdings in Ormat Technologies by 16.5% in the fourth quarter. Psagot Investment House Ltd. now owns 2,303 shares of the energy company’s stock valued at $120,000 after purchasing an additional 326 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ormat Technologies by 15.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after purchasing an additional 506 shares during the last quarter. 75.32% of the stock is currently owned by institutional investors.
Shares of ORA stock traded up $0.46 during trading hours on Monday, reaching $57.68. 100,503 shares of the company’s stock were exchanged, compared to its average volume of 137,803. The company has a market cap of $2.93 billion, a PE ratio of 27.73, a PEG ratio of 2.50 and a beta of 1.27. The company has a current ratio of 1.31, a quick ratio of 1.18 and a debt-to-equity ratio of 0.72. Ormat Technologies has a fifty-two week low of $45.79 and a fifty-two week high of $60.26.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, February 26th. The energy company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). The business had revenue of $190.47 million for the quarter, compared to analyst estimates of $181.05 million. Ormat Technologies had a return on equity of 5.84% and a net margin of 10.17%. On average, equities analysts forecast that Ormat Technologies will post 2.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.76%. This is an increase from Ormat Technologies’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, March 13th. Ormat Technologies’s dividend payout ratio is presently 21.15%.
About Ormat Technologies
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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