Brokerages Expect Otter Tail Corp. (NASDAQ:OTTR) to Announce $0.42 EPS
Otter Tail Corp. (NASDAQ:OTTR) has received an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also given Otter Tail Corp. an industry rank of 165 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut Otter Tail Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday.
Shares of Otter Tail Corp. (NASDAQ:OTTR) traded down 0.20% during trading on Wednesday, reaching $35.17. The company had a trading volume of 44,093 shares. Otter Tail Corp. has a 52-week low of $25.20 and a 52-week high of $35.88. The company has a 50 day moving average of $34.57 and a 200-day moving average of $31.59. The firm has a market capitalization of $1.36 billion, a P/E ratio of 22.13 and a beta of 0.76.
Otter Tail Corp. (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Otter Tail Corp. had a return on equity of 9.98% and a net margin of 7.53%. The firm had revenue of $203.50 million for the quarter, compared to analysts’ expectations of $194 million. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that Otter Tail Corp. will post $1.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Monday, August 15th were issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, August 11th. Otter Tail Corp.’s payout ratio is presently 78.62%.
In other news, VP Paul L. Knutson sold 1,700 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $34.50, for a total transaction of $58,650.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin G. Moug sold 800 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.07, for a total value of $27,256.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in OTTR. First Trust Advisors LP acquired a new stake in shares of Otter Tail Corp. during the second quarter valued at approximately $12,944,000. Vanguard Group Inc. boosted its stake in shares of Otter Tail Corp. by 8.8% in the second quarter. Vanguard Group Inc. now owns 3,039,645 shares of the company’s stock valued at $101,797,000 after buying an additional 244,991 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Otter Tail Corp. by 53.3% in the second quarter. Advisors Asset Management Inc. now owns 179,560 shares of the company’s stock valued at $6,013,000 after buying an additional 62,429 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of Otter Tail Corp. by 77.2% in the second quarter. Teachers Advisors Inc. now owns 104,709 shares of the company’s stock valued at $3,507,000 after buying an additional 45,605 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Otter Tail Corp. by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,093,804 shares of the company’s stock valued at $36,630,000 after buying an additional 45,088 shares during the last quarter. Institutional investors own 35.92% of the company’s stock.
About Otter Tail Corp.
Otter Tail Corporation is a holding company. The Company, through its subsidiaries, operates through three segments: Electric, Manufacturing and Plastics. The Company’s subsidiaries own facilities and equipment used in the manufacture of producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.
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