Otter Tail Co. to Post Q1 2017 Earnings of $0.44 Per Share, KeyCorp Forecasts (OTTR)
Otter Tail Co. (NASDAQ:OTTR) – Research analysts at KeyCorp issued their Q1 2017 earnings estimates for shares of Otter Tail in a research report issued on Tuesday. KeyCorp analyst P. Ridzon anticipates that the utilities provider will post earnings of $0.44 per share for the quarter.
Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, February 6th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm earned $196.90 million during the quarter, compared to analysts’ expectations of $192.40 million. Otter Tail had a net margin of 7.76% and a return on equity of 9.76%. Otter Tail’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. WARNING: This report was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/04/21/otter-tail-co-to-post-q1-2017-earnings-of-0-44-per-share-keycorp-forecasts-ottr.html.
Other research analysts also recently issued research reports about the stock. Sidoti raised shares of Otter Tail from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Friday, March 24th. Williams Capital assumed coverage on shares of Otter Tail in a report on Monday, February 6th. They set a “hold” rating and a $36.00 target price for the company. Finally, Zacks Investment Research raised shares of Otter Tail from a “sell” rating to a “hold” rating in a report on Wednesday, January 4th.
Shares of Otter Tail (NASDAQ:OTTR) opened at 38.85 on Thursday. The company has a market capitalization of $1.53 billion, a PE ratio of 24.18 and a beta of 0.76. Otter Tail has a one year low of $27.77 and a one year high of $42.55. The company has a 50-day moving average of $37.51 and a 200-day moving average of $37.59.
In related news, VP George A. Koeck sold 4,000 shares of Otter Tail stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $36.30, for a total transaction of $145,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin G. Moug sold 800 shares of Otter Tail stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $37.80, for a total transaction of $30,240.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Otter Tail by 1.8% in the first quarter. Nisa Investment Advisors LLC now owns 12,220 shares of the utilities provider’s stock valued at $463,000 after buying an additional 220 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Otter Tail by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 318,102 shares of the utilities provider’s stock valued at $12,979,000 after buying an additional 1,411 shares during the last quarter. Norges Bank bought a new stake in shares of Otter Tail during the fourth quarter valued at approximately $8,462,000. Summit Global Investments bought a new stake in shares of Otter Tail during the fourth quarter valued at approximately $526,000. Finally, Guggenheim Capital LLC increased its stake in shares of Otter Tail by 33.4% in the fourth quarter. Guggenheim Capital LLC now owns 35,591 shares of the utilities provider’s stock valued at $1,452,000 after buying an additional 8,918 shares during the last quarter. 37.58% of the stock is owned by institutional investors and hedge funds.
Otter Tail 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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