In its upcoming report, Ormat Technologies (ORA) is predicted by Wall Street analysts to post quarterly earnings of $0.67 per share, reflecting a decline of 6.9% compared to the same period last year. Revenues are forecasted to be $257.89 million, representing a year-over-year increase of 11.8%.
The current level reflects a downward revision of 3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Ormat Technologies metrics that Wall Street analysts commonly model and monitor.
Analysts' assessment points toward 'Revenues- Product' reaching $42.51 million. The estimate suggests a change of +7.2% year over year.
The combined assessment of analysts suggests that 'Revenues- Energy storage' will likely reach $19.42 million. The estimate indicates a year-over-year change of +77.3%.
The consensus estimate for 'Revenues- Electricity' stands at $196.06 million. The estimate indicates a change of +8.8% from the prior-year quarter.
The average prediction of analysts places 'Gross profit- Product' at $8.20 million. The estimate is in contrast to the year-ago figure of $9.71 million.
According to the collective judgment of analysts, 'Gross profit- Electricity' should come in at $68.47 million. Compared to the current estimate, the company reported $62.81 million in the same quarter of the previous year.
View all Key Company Metrics for Ormat Technologies here>>>
Over the past month, shares of Ormat Technologies have returned -6.8% versus the Zacks S&P 500 composite's -1% change. Currently, ORA carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Ormat Technologies, Inc. (ORA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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