Ormat Technologies Inc reports results for the quarter ended March 31 - Earnings Summary

• Ormat Technologies Inc ORA.N reported quarterly adjusted earnings of 68 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 64 cents. The mean expectation of nine analysts for the quarter was for earnings of 57 cents per share. Wall Street expected results to range from 47 cents to 65 cents per share.

• Revenue rose 2.5% to $229.76 million from a year ago; analysts expected $227.52 million.

• Ormat Technologies Inc's reported EPS for the quarter was 66 cents​.

• The company reported quarterly net income of $40.36 million.

• Ormat Technologies Inc shares had risen by 1.8% this quarter and gained 6.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 11% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," 6 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electric utilities peer group is also "buy"

• Wall Street's median 12-month price target for Ormat Technologies Inc is $81.00

This summary was machine generated from LSEG data May 7 at 10:30 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)