28 Oct '13, 3pm

Ormat: Cash Generation Justifies Earnings Multiple: Filed under: Energy News

Ormat Heat exchanger at GKW Landau. Geothermal water evaporates the carrier medium. Preheater and the evaporator. The steam line above connects to the turbine. Photo by Claus Ableiter via Wikimedia Commons by Debra Fiakas CFA Shares of geothermal power producer Ormat Technologies (ORA : NYSE) are trading at 29.2 times the 2014 consensus estimate of $0.93 per share. That multiple looks fair compared to growth expected at Ormat in the next year, but more dear against the company’s long-term growth prospects. The stock has been flying off recent project developments. In early September this year, the company completed construction and commissioning of a 100 megawatt geothermal plant in New Zealand, making it the world’s largest geothermal power plant of its kind. Straight off the job in New Zealand Ormat entered into a joint agreement with eBay (EBAY: Nasdaq) for the developm...

Full article: http://www.altenergystocks.com/archives/2013/10/ormat_cas...

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