Q3 2016 Earnings Estimate for Otter Tail Corp. (OTTR) Issued By KeyCorp
Otter Tail Corp. (NASDAQ:OTTR) – Investment analysts at KeyCorp increased their Q3 2016 earnings estimates for shares of Otter Tail Corp. in a note issued to investors on Monday. KeyCorp analyst P. Ridzon now forecasts that the brokerage will post earnings per share of $0.45 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.
Otter Tail Corp. (NASDAQ:OTTR) last issued its earnings results on Monday, August 8th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. The business had revenue of $203.50 million for the quarter, compared to analyst estimates of $194 million. Otter Tail Corp. had a net margin of 7.53% and a return on equity of 9.98%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share.
Separately, Zacks Investment Research lowered shares of Otter Tail Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th.
Shares of Otter Tail Corp. (NASDAQ:OTTR) traded up 2.05% during trading on Wednesday, hitting $34.90. 58,114 shares of the stock were exchanged. The stock’s 50 day moving average price is $34.59 and its 200-day moving average price is $32.44. Otter Tail Corp. has a one year low of $25.20 and a one year high of $36.42. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 21.96 and a beta of 0.67.
In other Otter Tail Corp. news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin G. Moug sold 800 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $34.07, for a total transaction of $27,256.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of Otter Tail Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 998,456 shares of the company’s stock valued at $29,574,000 after buying an additional 13,515 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Otter Tail Corp. during the second quarter valued at approximately $12,944,000. Whittier Trust Co. raised its position in shares of Otter Tail Corp. by 1.2% in the second quarter. Whittier Trust Co. now owns 27,875 shares of the company’s stock valued at $933,000 after buying an additional 338 shares in the last quarter. AXA bought a new position in shares of Otter Tail Corp. during the first quarter valued at approximately $185,000. Finally, Teachers Advisors Inc. raised its position in shares of Otter Tail Corp. by 8.7% in the first quarter. Teachers Advisors Inc. now owns 59,104 shares of the company’s stock valued at $1,751,000 after buying an additional 4,713 shares in the last quarter. Institutional investors own 35.95% of the company’s stock.
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.
Receive News & Stock Ratings for Otter Tail Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail Corp. and related stocks with our FREE daily email newsletter.