Zacks: Analysts Set $43.50 Target Price for Otter Tail Corporation (OTTR)
Otter Tail Corporation (NASDAQ:OTTR) has been assigned a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a twelve-month consensus target price of $43.50 for the company and are predicting that the company will post $0.46 EPS for the current quarter, according to Zacks. Zacks has also assigned Otter Tail Corporation an industry rank of 181 out of 265 based on the ratings given to related companies.
Several research firms have issued reports on OTTR. Zacks Investment Research lowered shares of Otter Tail Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. BidaskClub lowered shares of Otter Tail Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Otter Tail Corporation in a report on Friday, October 20th.
Shares of Otter Tail Corporation (OTTR) traded up $0.40 during mid-day trading on Friday, reaching $46.10. 68,001 shares of the company traded hands, compared to its average volume of 66,680. The company has a market capitalization of $1,823.58, a PE ratio of 25.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.56.
Otter Tail Corporation (NASDAQ:OTTR) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.06. Otter Tail Corporation had a net margin of 8.53% and a return on equity of 10.52%. The company had revenue of $216.50 million for the quarter, compared to analyst estimates of $201.70 million. During the same period last year, the company posted $0.37 earnings per share. Otter Tail Corporation’s revenue was up 9.8% compared to the same quarter last year. equities research analysts forecast that Otter Tail Corporation will post 1.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.78%. Otter Tail Corporation’s payout ratio is currently 71.11%.
In other news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail Corporation stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $41.75, for a total transaction of $62,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Prudential Financial Inc. lifted its stake in shares of Otter Tail Corporation by 47.2% during the third quarter. Prudential Financial Inc. now owns 20,520 shares of the utilities provider’s stock worth $890,000 after buying an additional 6,580 shares during the period. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Otter Tail Corporation by 129.2% during 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 period. Accredited Investors Inc. lifted its stake in shares of Otter Tail Corporation by 13.0% during 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 period. Victory Capital Management Inc. lifted its stake in shares of Otter Tail Corporation by 20.9% during 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 period. Finally, Murphy Capital Management Inc. acquired a new stake in shares of Otter Tail Corporation during the third quarter worth $216,000. Institutional investors and hedge funds own 40.48% of the company’s stock.
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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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