Ormat Technologies (NYSE:ORA – Get Free Report) issued its quarterly earnings data on Wednesday. The energy company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.23, FiscalAI reports. The business had revenue of $275.12 million for the quarter, compared to analysts’ expectations of $248.36 million. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%.
Ormat Technologies Price Performance
NYSE ORA traded up $0.24 during mid-day trading on Wednesday, hitting $94.43. The stock had a trading volume of 1,406,054 shares, compared to its average volume of 872,276. Ormat Technologies has a 52-week low of $85.77 and a 52-week high of $146.39. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.87. The company has a 50 day simple moving average of $94.41 and a 200 day simple moving average of $111.29. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 46.52, a P/E/G ratio of 3.42 and a beta of 0.89.
Analyst Upgrades and Downgrades
ORA has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Ormat Technologies in a research report on Wednesday, September 9th. Zacks Research cut Ormat Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. TD Cowen raised Ormat Technologies to a “strong-buy” rating in a research note on Monday, October 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ormat Technologies from $131.00 to $98.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $127.62.
Get Our Latest Analysis on Ormat Technologies
About Ormat Technologies
Ormat Technologies, Inc (NYSE: ORA) develops, owns, and operates renewable and alternative energy projects. The company’s principal activities include geothermal power generation, energy storage, and recovered energy generation, which converts waste heat from industrial processes into electricity.
Ormat provides equipment and services for geothermal projects, including turbines, generators, power plants, and related engineering and development capabilities. Its geothermal technology is designed to generate electricity from naturally occurring underground heat, including resources that may be unsuitable for conventional steam-based systems.
Founded in 1965, Ormat serves customers and operates projects in multiple international markets, including the United States, Latin America, Africa, and Asia.
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