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 investment analyst has rated the stock with a hold recommendation.
Zacks has also assigned Otter Tail Corp. an industry rank of 165 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered Otter Tail Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday.
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Otter Tail Corp. (NASDAQ:OTTR) traded down 0.20% on Wednesday, hitting $35.17. The company had a trading volume of 44,093 shares. The company has a market capitalization of $1.36 billion, a P/E ratio of 22.13 and a beta of 0.76. The stock’s 50-day moving average price is $34.57 and its 200 day moving average price is $31.59. Otter Tail Corp. has a one year low of $25.20 and a one year high of $35.88.
Otter Tail Corp. (NASDAQ:OTTR) last released its quarterly earnings results on Monday, August 8th. The company reported $0.41 EPS 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 analyst estimates of $194 million. During the same quarter in the previous year, the company posted $0.36 EPS. The business’s revenue was up 8.1% on a year-over-year basis. On average, analysts expect that Otter Tail Corp. will post $1.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Monday, August 15th were given a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.55%. Otter Tail Corp.’s dividend payout ratio (DPR) is presently 78.62%.
In other news, CFO Kevin G. Moug sold 800 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $34.07, for a total value of $27,256.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Paul L. Knutson sold 1,700 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $34.50, for a total value of $58,650.00. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in shares of Otter Tail Corp. by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 3,619 shares of the company’s stock worth $121,000 after buying an additional 22 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Otter Tail Corp. during the second quarter worth about $171,000. North Point Portfolio Managers Corp OH acquired a new position in shares of Otter Tail Corp. during the second quarter worth about $204,000. AXA acquired a new position in shares of Otter Tail Corp. during the first quarter worth about $185,000. Finally, Advisor Group Inc. acquired a new position in shares of Otter Tail Corp. during the second quarter worth about $239,000. 35.92% of the stock is currently owned by institutional investors.
Otter Tail Corp. Company Profile
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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