Ormat Technologies, Inc. (NYSE:ORA) declared a quarterly dividend on Tuesday, August 7th, NASDAQ reports. Investors of record on Tuesday, August 21st will be given a dividend of 0.10 per share by the energy company on Wednesday, August 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, August 20th.
Ormat Technologies has increased its dividend payment by an average of 25.0% annually over the last three years. Ormat Technologies has a dividend payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ormat Technologies to earn $2.33 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 17.2%.
NYSE:ORA opened at $51.30 on Friday. The firm has a market capitalization of $2.62 billion, a P/E ratio of 17.16, a P/E/G ratio of 2.52 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.16 and a quick ratio of 1.05. Ormat Technologies has a 1-year low of $45.79 and a 1-year high of $70.68.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Tuesday, August 7th. The energy company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.17). The business had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $176.06 million. Ormat Technologies had a return on equity of 9.60% and a net margin of 18.88%. research analysts expect that Ormat Technologies will post 1.87 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. ValuEngine downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. JPMorgan Chase & Co. downgraded Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Monday, May 14th. Guggenheim downgraded Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Wednesday, June 13th. Zacks Investment Research raised Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Finally, Roth Capital set a $67.00 price objective on Ormat Technologies and gave the stock a “buy” rating in a research note on Sunday, May 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Ormat Technologies currently has a consensus rating of “Hold” and a consensus target price of $65.67.
In other news, VP Erez Klein sold 4,120 shares of the firm’s stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $54.50, for a total transaction of $224,540.00. Following the completion of the sale, the vice president now directly owns 4,120 shares of the company’s stock, valued at approximately $224,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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