Ormat Technologies (NYE:ORA) is predicted to earn $0.38 per share in the second quarter of 2023. According to a report by Oppenheimer released on Friday, February 24th. The energy company’s earnings estimate was issued by Oppenheimer analyst N. Kaye. Who also gave a price target of $96.00 on the stock, with an “Outperform” rating. Ormat Technologies is expected to have full-year earnings of $1.91 per share. Additionally, Oppenheimer provided estimates for Ormat Technologies (NYE:ORA) Q4 2023 earnings at $0.57 EPS and FY2024 earnings at $1.98 EPS.
Other reports on ORA include a recent upgrade from “sell” to “hold” by StockTargetAdvisor.com, and a “neutral” rating from Bank of America (NYE:BAC). Five analysts have given ORA a “hold” rating, and one has rated it as a “buy.” As of February 27th, the average rating for Ormat Technologies is “Hold,” with an average target price of $89.75.
Shares of ORA were trading up 1.3%, opening at $83.52 on Monday. The stock has a market capitalization of $4.68 billion, a P/E ratio of 71.39, and a beta of 0.49. Ormat Technologies has a fifty-two week low of $67.28 and a fifty-two week high of $101.81. The company has a quick ratio of 1.20, a current ratio of 1.33, and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $89.27 and a 200 day simple moving average of $90.84.
In other news, several hedge funds and institutional investors have recently acquired and sold shares of Ormat Technologies, with 81.74% of the stock owned by these entities. Ormat Technologies also announced a quarterly dividend of $0.12 per share, payable on March 22nd to investors of record on March 8th, representing a dividend payout ratio of 41.03% and an annualized yield of 0.57%.
Ormat Technologies Stock Analysis:
Ormat Inc. is expected to have an average target price of USD 90.17 over the next 12 months, based on stock forecasts from six analysts. The average analyst ratings for the company is Buy, and Stock Target Advisor’s analysis of Ormat Technologies Inc is Slightly Bearish, based on seven positive signals and nine negative signals. The company’s stock price closed at USD 83.52, having changed by -9.66% over the past week, -8.82% over the past month, and +16.29% over the last year.
Company Overview:
Ormat Technologies, Inc. is a geothermal and recovered energy power company that operates in several countries, including the United States, Indonesia, Kenya, and Chile. The company has three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants, while the Product segment designs and sells equipment for geothermal and recovered energy-based electricity generation, as well as provides services for the engineering, procurement, construction, operation, and maintenance of power plants. The Energy Storage segment offers energy storage services and related engineering, procurement, construction, operation, and maintenance services. Ormat Technologies, Inc. was founded in 1965 and is headquartered in Reno, Nevada.
