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Ormat Technologies (ORA) Outpaces Stock Market Gains: What You Should Know
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Ormat Technologies (ORA - Free Report) closed at $87.16 in the latest trading session, marking a +1.98% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Heading into today, shares of the geothermal company had gained 6.4% over the past month, lagging the Oils-Energy sector's gain of 8.83% and outpacing the S&P 500's gain of 4.59% in that time.
Wall Street will be looking for positivity from Ormat Technologies as it approaches its next earnings report date. This is expected to be May 9, 2023. In that report, analysts expect Ormat Technologies to post earnings of $0.49 per share. This would mark year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $212.39 million, up 15.61% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.90 per share and revenue of $838.13 million. These totals would mark changes of +16.56% and +14.16%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Ormat Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.96% higher. Ormat Technologies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Ormat Technologies has a Forward P/E ratio of 44.94 right now. For comparison, its industry has an average Forward P/E of 26.51, which means Ormat Technologies is trading at a premium to the group.
Investors should also note that ORA has a PEG ratio of 4.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Ormat Technologies (ORA) Outpaces Stock Market Gains: What You Should Know
Ormat Technologies (ORA - Free Report) closed at $87.16 in the latest trading session, marking a +1.98% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Heading into today, shares of the geothermal company had gained 6.4% over the past month, lagging the Oils-Energy sector's gain of 8.83% and outpacing the S&P 500's gain of 4.59% in that time.
Wall Street will be looking for positivity from Ormat Technologies as it approaches its next earnings report date. This is expected to be May 9, 2023. In that report, analysts expect Ormat Technologies to post earnings of $0.49 per share. This would mark year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $212.39 million, up 15.61% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.90 per share and revenue of $838.13 million. These totals would mark changes of +16.56% and +14.16%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Ormat Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.96% higher. Ormat Technologies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Ormat Technologies has a Forward P/E ratio of 44.94 right now. For comparison, its industry has an average Forward P/E of 26.51, which means Ormat Technologies is trading at a premium to the group.
Investors should also note that ORA has a PEG ratio of 4.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Alternative Energy - Other stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.