
Ormat Technologies (ORA) Stock Forecast & Price Target
Ormat Technologies (ORA) Analyst Ratings
Bulls say
Ormat Technologies Inc. has demonstrated strong financial performance by delivering a Q3 earnings beat and subsequently raising its FY24 revenue guidance to a midpoint of $875-910 million, reflecting a robust recovery in capacity at key geothermal sites which supports improved margins. The company's Product Segment shows promising growth, with a significant 38% year-over-year increase in backlog, enhancing its revenue outlook and resulting in increased estimates for both 2024 and electricity pricing going into 2025. Additionally, Ormat’s strategic acquisition of Enel is expected to bolster portfolio growth, positioning the company well to capitalize on the rising demand for baseload renewable energy, thereby contributing to its outperformance relative to clean energy peers.
Bears say
Ormat Technologies Inc. has experienced a reduction in its 2025 earnings per share (EPS) forecast to $2.30, driven by lower revenue expectations in its Energy Storage Segment, which has seen a downward revision of capacity added for 2025. Additionally, the company has lowered its guidance for the Product Segment revenue to a range of $130-138 million, reflecting a decline from prior expectations, and reported a significant 14% year-over-year drop in its Product segment backlog. Currency fluctuations and potential penalties related to performance agreements (PPAs) pose further risks, indicating that any operational shortcomings in their geothermal plants may lead to reduced competitive viability against other renewable energy sources.
This aggregate rating is based on analysts' research of Ormat Technologies and is not a guaranteed prediction by Public.com or investment advice.
Ormat Technologies (ORA) Analyst Forecast & Price Prediction
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