Brokerages predict that Otter Tail Corporation (NASDAQ:OTTR) will report earnings of $0.47 per share for the current quarter, Zacks reports. Zero analysts have made estimates for Otter Tail Corporation’s earnings. Otter Tail Corporation reported earnings per share of $0.44 during the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The company is expected to issue its next earnings report on Monday, February 5th.
On average, analysts expect that Otter Tail Corporation will report full-year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.76. For the next fiscal year, analysts forecast that the firm will report earnings of $1.82 per share, with EPS estimates ranging from $1.80 to $1.83. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Otter Tail Corporation.
Otter Tail Corporation (NASDAQ:OTTR) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The company had revenue of $216.50 million for the quarter, compared to the consensus estimate of $201.70 million. Otter Tail Corporation had a return on equity of 10.52% and a net margin of 8.53%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 earnings per share.
Several brokerages have recently issued reports on OTTR. Zacks Investment Research cut shares of Otter Tail Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub cut shares of Otter Tail Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Otter Tail Corporation in a research note on Friday, October 20th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Otter Tail Corporation currently has a consensus rating of “Hold” and an average target price of $43.33.
In related news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $41.75, for a total transaction of $62,625.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. lifted its stake in Otter Tail Corporation by 47.2% in the third quarter. Prudential Financial Inc. now owns 20,520 shares of the utilities provider’s stock valued at $890,000 after acquiring an additional 6,580 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Otter Tail Corporation by 129.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 6,240 shares of the utilities provider’s stock worth $270,000 after buying an additional 3,517 shares during the last quarter. Accredited Investors Inc. lifted its stake in shares of Otter Tail Corporation by 13.0% in the third quarter. Accredited Investors Inc. now owns 12,811 shares of the utilities provider’s stock worth $555,000 after buying an additional 1,474 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Otter Tail Corporation by 20.9% in the third quarter. Victory Capital Management Inc. now owns 23,982 shares of the utilities provider’s stock worth $1,040,000 after buying an additional 4,141 shares during the last quarter. Finally, Murphy Capital Management Inc. acquired a new stake in shares of Otter Tail Corporation in the third quarter worth $216,000. Hedge funds and other institutional investors own 40.48% of the company’s stock.
Otter Tail Corporation (OTTR) traded up $0.40 during trading on Friday, reaching $46.10. The company’s stock had a trading volume of 68,001 shares, compared to its average volume of 66,680. The company has a market cap of $1,847.33, a PE ratio of 25.94 and a beta of 0.81.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Wednesday, November 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Tuesday, November 14th. Otter Tail Corporation’s dividend payout ratio (DPR) is currently 71.11%.
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About Otter Tail Corporation
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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