Ormat Technologies (NYSE:ORA) Posts Earnings Results, Beats Expectations By $0.38 EPS
by Renee Jackson · The Cerbat GemOrmat Technologies (NYSE:ORA – Get Free Report) announced its quarterly earnings results on Wednesday. The energy company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.38, FiscalAI reports. The business had revenue of $403.91 million during the quarter, compared to analysts’ expectations of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm’s revenue for the quarter was up 75.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS.
Ormat Technologies Trading Down 0.7%
Shares of NYSE:ORA traded down $0.82 on Friday, hitting $121.70. The company had a trading volume of 861,635 shares, compared to its average volume of 900,622. The firm’s 50-day simple moving average is $111.26 and its two-hundred day simple moving average is $113.47. Ormat Technologies has a 1 year low of $70.42 and a 1 year high of $132.58. The company has a quick ratio of 0.75, a current ratio of 1.07 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 59.08, a P/E/G ratio of 5.37 and a beta of 0.80.
Ormat Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.30%.
Insider Activity at Ormat Technologies
In other news, insider Jessica Woelfel sold 2,359 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the sale, the insider directly owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 3,364 shares of company stock valued at $353,621. Company insiders own 0.56% of the company’s stock.
Institutional Investors Weigh In On Ormat Technologies
Several institutional investors and hedge funds have recently modified their holdings of the stock. Compound Planning Inc. purchased a new stake in shares of Ormat Technologies in the 4th quarter worth about $650,000. Invesco Ltd. increased its stake in shares of Ormat Technologies by 3.4% in the 4th quarter. Invesco Ltd. now owns 388,496 shares of the energy company’s stock worth $42,917,000 after acquiring an additional 12,914 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Ormat Technologies by 2.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 32,272 shares of the energy company’s stock worth $3,565,000 after acquiring an additional 858 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Ormat Technologies in the 4th quarter worth about $207,000. Finally, Cinctive Capital Management LP bought a new position in shares of Ormat Technologies in the 4th quarter worth about $324,000. 95.49% of the stock is owned by hedge funds and other institutional investors.
Ormat Technologies News Roundup
Here are the key news stories impacting Ormat Technologies this week:
- Positive Sentiment: Ormat posted Q1 adjusted EPS of $1.30, well above the $0.92 consensus estimate, while revenue climbed 75.8% year over year to $403.9 million. The beat was driven by stronger performance in energy storage and products, plus supportive merchant pricing. Article Title
- Positive Sentiment: Adjusted EBITDA rose 29.7% year over year to $194.9 million, reinforcing the view that profitability improved meaningfully in the quarter. Article Title
- Positive Sentiment: JPMorgan raised its price target on ORA to $123 from $106, signaling increased confidence in the stock’s near-term valuation even while keeping a neutral rating. Article Title
- Neutral Sentiment: The company also declared a quarterly dividend of $0.12 per share, which supports the investment case but is not a major catalyst by itself.
- Negative Sentiment: Despite the strong quarter, insider trading and some institutional filings show more selling than buying over the past six months, which may temper enthusiasm around the stock’s longer-term ownership trend. Article Title
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Roth Mkm set a $139.00 price target on shares of Ormat Technologies in a research report on Wednesday, January 28th. Oppenheimer reissued an “outperform” rating and set a $144.00 price target on shares of Ormat Technologies in a research report on Friday. Robert W. Baird dropped their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Barclays increased their price target on shares of Ormat Technologies from $123.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada assumed coverage on shares of Ormat Technologies in a research report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.00.
Ormat Technologies Company Profile
Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.
Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.