Somewhat Favorable Press Coverage Unlikely to Impact Ormat Technologies (ORA) Share Price

Press coverage about Ormat Technologies (NYSE:ORA) has trended somewhat positive on Wednesday, according to Alpha One Sentiment. The research group, a service of Accern, identifies positive and negative news coverage by analyzing more than twenty million blog and news sources. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ormat Technologies earned a media sentiment score of 0.12 on Alpha One’s scale. Alpha One also assigned media coverage about the energy company an impact score of 33 out of 100, indicating that recent news coverage is unlikely to have an effect on the company’s share price in the next several days.

These are some of the news headlines that may have effected AlphaOne Sentiment’s scoring:

A number of analysts have recently issued reports on ORA shares. Zacks Investment Research upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Friday, May 12th. Barclays PLC lifted their price objective on shares of Ormat Technologies from $43.00 to $54.00 and gave the company an “underweight” rating in a research note on Monday, March 6th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $65.00 price objective (up previously from $56.00) on shares of Ormat Technologies in a research note on Wednesday, March 1st. Roth Capital set a $66.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Monday, March 6th. Finally, Cowen and Company set a $67.00 price objective on shares of Ormat Technologies and gave the company a “buy” rating in a research note on Wednesday, May 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ormat Technologies currently has a consensus rating of “Buy” and an average target price of $65.25.

Shares of Ormat Technologies (ORA) traded up 1.63% during mid-day trading on Wednesday, hitting $59.75. 295,286 shares of the company were exchanged. The stock has a market cap of $2.97 billion, a PE ratio of 30.15 and a beta of 1.18. Ormat Technologies has a 12-month low of $41.12 and a 12-month high of $61.49. The stock’s 50-day moving average price is $58.29 and its 200 day moving average price is $55.29.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, May 8th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Ormat Technologies had a return on equity of 9.45% and a net margin of 13.29%. The company had revenue of $189.90 million during the quarter, compared to analyst estimates of $177.42 million. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities analysts anticipate that Ormat Technologies will post $2.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Monday, May 22nd were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. Ormat Technologies’s dividend payout ratio (DPR) is presently 15.73%.

In other news, Director Robert F. Clarke sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $56.97, for a total transaction of $854,550.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $427,275. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bob Sullivan sold 7,151 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $58.13, for a total value of $415,687.63. Following the transaction, the executive vice president now owns 7,151 shares of the company’s stock, valued at $415,687.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,540 shares of company stock valued at $2,213,695. Corporate insiders own 22.97% of the company’s stock.

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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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ORA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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