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Ormat Technologies (ORA) Gains But Lags Market: What You Should Know
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Ormat Technologies (ORA - Free Report) closed the most recent trading day at $86.81, moving +1.56% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.96%. At the same time, the Dow added 1.57%, and the tech-heavy Nasdaq lost 3.03%.
Prior to today's trading, shares of the geothermal company had gained 1.2% over the past month. This has lagged the Oils-Energy sector's gain of 6.43% and the S&P 500's gain of 2.19% in that time.
Ormat Technologies will be looking to display strength as it nears its next earnings release, which 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.
ORA's full-year Zacks Consensus Estimates are calling for earnings of $1.88 per share and revenue of $838.13 million. These results would represent year-over-year changes of +15.34% and +14.16%, respectively.
Investors should also note any 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.96% higher. Ormat Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Ormat Technologies is holding a Forward P/E ratio of 45.37. This represents a premium compared to its industry's average Forward P/E of 24.89.
Meanwhile, ORA's PEG ratio is currently 4.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ORA's industry had an average PEG ratio of 1.37 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ormat Technologies (ORA) Gains But Lags Market: What You Should Know
Ormat Technologies (ORA - Free Report) closed the most recent trading day at $86.81, moving +1.56% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.96%. At the same time, the Dow added 1.57%, and the tech-heavy Nasdaq lost 3.03%.
Prior to today's trading, shares of the geothermal company had gained 1.2% over the past month. This has lagged the Oils-Energy sector's gain of 6.43% and the S&P 500's gain of 2.19% in that time.
Ormat Technologies will be looking to display strength as it nears its next earnings release, which 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.
ORA's full-year Zacks Consensus Estimates are calling for earnings of $1.88 per share and revenue of $838.13 million. These results would represent year-over-year changes of +15.34% and +14.16%, respectively.
Investors should also note any 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.96% higher. Ormat Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Ormat Technologies is holding a Forward P/E ratio of 45.37. This represents a premium compared to its industry's average Forward P/E of 24.89.
Meanwhile, ORA's PEG ratio is currently 4.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ORA's industry had an average PEG ratio of 1.37 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.