Should you purge Ormat Technologies Inc. (NYSE:ORA) from your holding?


Let us have a close look at Ormat Technologies Inc. (NYSE:ORA) today to get a better perspective of the company and its prevailing status, as well as the opportunity it may present for prospective investors. Today’s emphasis will be a fundamental assessment of the stock. So, let’s start this analysis with the top line: Revenue trends.

The company witnessed its sales move to $189.9M in total revenues. That shows change in revenues, on a quarterly YoY basis, of 0.2%. In sequential terms, the firm saw sales grow by 0.12% from quarter to quarter.

The cost of selling goods for Ormat Technologies Inc. (NYSE:ORA) in last quarter was $115.49M, yielding a gross income of $74.41M. For shareholders, given the total diluted due shares of 50.49M, this means earnings per share of $0.70. Note, this compares with an analyst forecast of $0.50 in earnings per share for its imminent fiscal quarterly report.

The Barchart Technical Opinion rating is a 96% Buy with a Average short term outlook on maintaining the current direction. Longer term, the trend strength is Maximum. Long term indicators fully support a continuation of the trend. The market is in highly overbought territory. Beware of a trend reversal.

At present, analysts provided a consensus average recommendation of Overweight based on a total of 6.

Analysts have an average target of $62.67 on the stock. For next year fiscal year forecast is about $2.48 in EPS. On a median price/earnings ratio basis, the valuation is 24.43 times earnings.

For Ormat Technologies Inc. (NYSE:ORA), the firm presently holds about $234.02M in cash in the reserves. That cash is balanced against approximately $94.38M in total current liabilities.

The firm’s debt has been $growing. It also has $2.5B in total assets, balanced by $1.3B in total liabilities.

The company recorded a free cash flow last quarter of $18.58M, representing a quarterly net change of $(30.46M). On a net operating level, the firm saw about $71.46M in cash flow.

Ormat Technologies, Inc. (NYSE:ORA) today announced receipt of the final approval required for the execution of a Power Purchase Agreement (PPA) between ONGP LLC, a subsidiary of the Company, and Southern California Public Power Authority (SCPPA). Under the PPA, SCPPA will purchase 150MW of power generated by a portfolio of the Company’s new and existing geothermal power plants. SCPPA will resell the entire output to the Los Angeles Department of Water and Power (LADWP).

We will bring up-to-date the interesting story of Ormat Technologies Inc. (NYSE:ORA) as new events transpire.

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