Last $28.15 USD
Change Today +0.14 / 0.50%
Volume 18.6K
ORA On Other Exchanges
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As of 10:08 AM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

ormat technologies inc (ORA) Snapshot

Open
$28.04
Previous Close
$28.01
Day High
$28.17
Day Low
$27.98
52 Week High
03/28/14 - $30.46
52 Week Low
01/28/14 - $23.95
Market Cap
1.3B
Average Volume 10 Days
53.7K
EPS TTM
$1.11
Shares Outstanding
45.5M
EX-Date
08/15/14
P/E TM
25.4x
Dividend
$0.20
Dividend Yield
0.71%
Current Stock Chart for ORMAT TECHNOLOGIES INC (ORA)

ormat technologies inc (ORA) Related Businessweek News

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ormat technologies inc (ORA) Details

Ormat Technologies, Inc. is engaged in the geothermal and recovered energy power business worldwide. The company operates in two segments, Electricity and Product. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. As of February 25, 2014, it operated power plants with a net generating portfolio of 626 megawatts in the United States, Guatemala, and Kenya. The Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation; fossil fuel powered turbo-generators; and heavy duty direct-current generators. It also provides services relating to the engineering, procurement, construction, operation, and maintenance of geothermal and recovered energy-based power plants. This segment serves contractors and geothermal power plant owners and operators; and interstate natural gas pipeline owners and operators, gas processing plant owners and operators, cement plant owners and operators, and companies in other energy-intensive industrial processes. The company was founded in 1972 and is based in Reno, Nevada. Ormat Technologies, Inc. is a subsidiary of Ormat Industries Ltd.

1,123 Employees
Last Reported Date: 02/28/14
Founded in 1972

ormat technologies inc (ORA) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: $263.5K
Executive Vice President of Project Managemen...
Total Annual Compensation: $227.2K
Senior Vice President of Engineering
Total Annual Compensation: $198.1K
Executive Vice-President of Marketing & Sales...
Total Annual Compensation: $214.3K
Part-Time Advisor To Chief Executive Officer
Total Annual Compensation: $286.5K
Compensation as of Fiscal Year 2013.

ormat technologies inc (ORA) Key Developments

Ormat Technologies Inc. Concludes $140 million Loan Financing for McGinness Hills Phase 2 project in Nevada

Ormat Technologies Inc. revealed the execution of a $140 million loan to finance agreement for the construction of the McGinness Hills Phase 2 project in Nevada. This agreement has been initiated by the company's wholly-owned indirect subsidiary, OFC 2 LLC, and its project subsidiaries (Ormat). The plant is expected to come on line in the first half of 2015, bringing the complex's total capacity to approximately 70 MW. Under the agreement, the $140 million loan, which matures in December 2032, carries a 4.61% coupon with principal paid quarterly.

Ormat Technologies Inc. Approves Quarterly Dividend, Payable on August 28, 2014

On August 5, 2014, Ormat Technologies Inc.'s Board of Directors approved a payment of a quarterly dividend of $0.05 per share pursuant to the company's dividend policy. The dividend will be paid on August 28, 2014 to shareholders of record as of closing of business on August 19, 2014.

Ormat Technologies Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Second Half and Full Year of 2014; Reports Write-Off for the Second Quarter Ended June 30, 2014

Ormat Technologies Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues were $127.6 million, a 16.4% decrease from the second quarter of 2013 as a result of an expected reduction in Product Segment revenues. Operating income was $22.3 million, compared to $37.9 million for the three months ended June 30, 2013. Net income attributable to the company's shareholders of $9.1 million, or $0.20 per share, compared to $25.2 million, or $0.55 per share, for the three months ended June 30, 2013. Adjusted EBITDA for the three months ended June 30, 2014 was $59.7 million, compared to $69.7 million for the three months ended June 30, 2013, a decrease of 14.3%. Income from continuing operations was $9.313 million or $0.20 basic and diluted per share compared with $21.390 million or $0.46 basic and diluted per share for the same period last year. Net cash provided by operating activities was $35.503 million compared with $1.734 million for the same period last year. EBITDA was $59.744 million compared with $69.719 million for the same period last year. For the six months, the company reported net income attributable to the company's shareholders of $30.7 million, or $0.67 per share, compared to $20.1 million, or $0.44 per share, for the six months ended June 30, 2013 and increase of 52.7%. Adjusted EBITDA was $130.3 million, compared to $115.5 million for the six months ended June 30, 2013, an increase of 12.9%. Net cash provided by operating activities was $103.6 million in the six months ended June 30, 2014, compared to $20.0 million in the six months ended June 30, 2013. Total revenues were $270.039 million compared with $271.585 million for the same period last year. Operating income was $64.901 million compared with $45.546 million for the same period last year. Income from continuing operations was $31.102 million or $0.67 basic and diluted per share compared with $15.836 million or $0.34 basic and diluted per share for the same period last year. Net cash provided by operating activities was $103.579 million compared with $19.950 million for the same period last year. EBITDA was $130.335 million compared with $106.471 million for the same period last year. By reaffirming its Product Segment guidance, the company expects the second half of 2014 to be stronger than the first half with a strong fourth quarter. The company reaffirm's its 2014 guidance and expect total revenues to be between $540.0 million to $560.0 million with electricity revenues ranging $370.0 million to $380.0 million and its product segment revenues to be between $170.0 million and $180.0 million. The company plan to invest a total of $62 million in capital expenditures on new projects, under construction or enhancement. The company recorded $8.1 million write-off of its Wister site in California.

 

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Valuation ORA Industry Range
Price/Earnings 24.7x
Price/Sales 2.4x
Price/Book 1.7x
Price/Cash Flow 24.6x
TEV/Sales 0.3x
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