Otter Tail Corporation (OTTR) Announces Earnings Results
Otter Tail Corporation (NASDAQ:OTTR) announced its quarterly earnings results on Monday. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01, Bloomberg Earnings reports. The company had revenue of $212.10 million during the quarter, compared to the consensus estimate of $211.30 million. Otter Tail Corporation had a return on equity of 10.15% and a net margin of 8.30%. Otter Tail Corporation’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS.
Shares of Otter Tail Corporation (NASDAQ:OTTR) traded up 2.12% during mid-day trading on Tuesday, reaching $41.36. The company’s stock had a trading volume of 13,405 shares. The firm has a market capitalization of $1.63 billion, a PE ratio of 24.06 and a beta of 0.78. The firm has a 50-day moving average of $40.22 and a 200-day moving average of $38.74. Otter Tail Corporation has a 52 week low of $32.99 and a 52 week high of $42.55.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, August 11th. Otter Tail Corporation’s dividend payout ratio (DPR) is 74.85%.
A number of analysts have issued reports on OTTR shares. Zacks Investment Research raised Otter Tail Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub downgraded Otter Tail Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd.
In related news, CFO Kevin G. Moug sold 800 shares of Otter Tail Corporation stock in a transaction on Monday, May 15th. The shares were sold at an average price of $37.25, for a total value of $29,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by insiders.
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Otter Tail Corporation Company Profile
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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