Otter Tail (OTTR) Announces Quarterly Earnings Results

Otter Tail (NASDAQ:OTTR) issued its quarterly earnings data on Monday. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.06, Briefing.com reports. The firm had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.30 million. Otter Tail had a net margin of 8.21% and a return on equity of 10.34%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. Otter Tail updated its FY18 guidance to $1.80-1.95 EPS.

Shares of Otter Tail (NASDAQ:OTTR) traded down $0.35 on Tuesday, hitting $40.95. 109,600 shares of the stock traded hands, compared to its average volume of 105,983. Otter Tail has a 12 month low of $35.65 and a 12 month high of $48.65. The company has a market capitalization of $1,633.72, a PE ratio of 22.75 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.61.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.335 per share. The ex-dividend date is Wednesday, February 14th. This is a boost from Otter Tail’s previous quarterly dividend of $0.32. This represents a $1.34 annualized dividend and a dividend yield of 3.27%. Otter Tail’s dividend payout ratio (DPR) is currently 71.11%.

Several equities research analysts have issued reports on OTTR shares. BidaskClub downgraded shares of Otter Tail from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research cut shares of Otter Tail from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Sidoti cut shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Monday, January 8th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Otter Tail in a report on Friday, October 20th.

In other news, Director John D. Erickson sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.55, for a total transaction of $109,320.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP George A. Koeck sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total transaction of $139,500.00. The disclosure for this sale can be found here. Insiders have sold 6,900 shares of company stock worth $318,570 over the last ninety days. Insiders own 1.40% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Otter Tail (OTTR) Announces Quarterly Earnings Results” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/02/12/otter-tail-ottr-releases-quarterly-earnings-results-misses-expectations-by-0-17-eps.html.

About Otter Tail

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).

Earnings History for Otter Tail (NASDAQ:OTTR)

Receive News & Ratings for Otter Tail Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply