Media coverage about Ormat Technologies (NYSE:ORA) has been trending somewhat positive this week, according to Accern. Accern identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Ormat Technologies earned a news sentiment score of 0.16 on Accern’s scale. Accern also gave news stories about the energy company an impact score of 46.3691589024559 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
A number of research firms have issued reports on ORA. BidaskClub raised Ormat Technologies from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research lowered Ormat Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. J P Morgan Chase & Co raised Ormat Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $65.00 to $71.00 in a report on Wednesday, June 7th. Barclays PLC raised Ormat Technologies from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $54.00 to $59.00 in a report on Friday, May 26th. Finally, Cowen and Company set a $67.00 target price on Ormat Technologies and gave the company a “buy” rating in a report on Monday, July 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.38.
Shares of Ormat Technologies (NYSE ORA) opened at 55.61 on Friday. The stock’s 50 day moving average price is $57.86 and its 200 day moving average price is $57.76. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 25.37 and a beta of 1.20. Ormat Technologies has a one year low of $45.30 and a one year high of $61.49.
Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $179.36 million for the quarter, compared to the consensus estimate of $169.80 million. Ormat Technologies had a return on equity of 10.25% and a net margin of 15.36%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that Ormat Technologies will post $2.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Friday, August 11th. Ormat Technologies’s payout ratio is 14.61%.
In related news, Director David Granot sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $57.70, for a total transaction of $288,500.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $288,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Eugene Joyal sold 7,500 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $57.75, for a total value of $433,125.00. Following the transaction, the director now directly owns 7,500 shares of the company’s stock, valued at $433,125. The disclosure for this sale can be found here. Insiders sold a total of 11,067,154 shares of company stock valued at $630,894,268 over the last quarter. 22.97% of the stock is owned by corporate insiders.
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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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