Q3 2016 Earnings Estimate for Otter Tail Corp. (OTTR) Issued By KeyCorp
Otter Tail Corp. (NASDAQ:OTTR) – Research analysts at KeyCorp increased their Q3 2016 EPS estimates for shares of Otter Tail Corp. in a research note issued on Monday. KeyCorp analyst P. Ridzon now anticipates that the brokerage will earn $0.45 per share for the quarter, up from their previous estimate of $0.42. KeyCorp also issued estimates for Otter Tail Corp.’s FY2016 earnings at $1.65 EPS and FY2017 earnings at $1.70 EPS.
Separately, Zacks Investment Research downgraded Otter Tail Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th.
Shares of Otter Tail Corp. (NASDAQ:OTTR) traded up 2.05% during mid-day trading on Wednesday, hitting $34.90. The stock had a trading volume of 58,114 shares. Otter Tail Corp. has a 1-year low of $25.20 and a 1-year high of $36.42. The stock’s 50-day moving average price is $34.59 and its 200 day moving average price is $32.44. The company has a market capitalization of $1.35 billion, a P/E ratio of 21.96 and a beta of 0.67.
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Otter Tail Corp. (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earned $203.50 million during the quarter, compared to analyst estimates of $194 million. During the same period in the prior year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year.
In related news, VP Paul L. Knutson sold 1,700 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $34.50, for a total value of $58,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin G. Moug sold 800 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were 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. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in 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 valued at $121,000 after buying an additional 22 shares during the period. BNP Paribas Arbitrage SA increased its stake in Otter Tail Corp. by 85.9% in the third quarter. BNP Paribas Arbitrage SA now owns 3,617 shares of the company’s stock valued at $125,000 after buying an additional 1,671 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Otter Tail Corp. during the second quarter valued at about $171,000. AXA purchased a new stake in Otter Tail Corp. during the first quarter valued at about $185,000. Finally, North Point Portfolio Managers Corp OH purchased a new stake in Otter Tail Corp. during the second quarter valued at about $204,000. Institutional investors and hedge funds own 35.95% 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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