$0.38 Earnings Per Share Expected for Otter Tail Corporation (OTTR) This Quarter
Wall Street analysts predict that Otter Tail Corporation (NASDAQ:OTTR) will post earnings per share of $0.38 for the current quarter, Zacks reports. Zero analysts have provided estimates for Otter Tail Corporation’s earnings. Otter Tail Corporation reported earnings per share of $0.37 during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The firm is expected to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Otter Tail Corporation will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.76. For the next financial year, analysts forecast that the business will report earnings of $1.82 per share, with EPS estimates ranging from $1.80 to $1.83. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Otter Tail Corporation.
Otter Tail Corporation (NASDAQ:OTTR) last released its earnings results on Monday, August 7th. The utilities provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. Otter Tail Corporation had a net margin of 8.35% and a return on equity of 10.14%. The business had revenue of $212.10 million during the quarter, compared to analyst estimates of $211.30 million. During the same period in the prior year, the business earned $0.41 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis.
Several research analysts recently weighed in on the stock. BidaskClub lowered shares of Otter Tail Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Otter Tail Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Saturday.
In related news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail Corporation stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Eqis Capital Management Inc. raised its holdings in Otter Tail Corporation by 1.8% during the 2nd quarter. Eqis Capital Management Inc. now owns 7,425 shares of the utilities provider’s stock worth $294,000 after buying an additional 129 shares during the period. Legal & General Group Plc raised its holdings in Otter Tail Corporation by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 12,318 shares of the utilities provider’s stock worth $490,000 after buying an additional 160 shares during the period. Nisa Investment Advisors LLC raised its holdings in Otter Tail Corporation by 1.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 12,220 shares of the utilities provider’s stock worth $463,000 after buying an additional 220 shares during the period. Clinton Group Inc. raised its holdings in Otter Tail Corporation by 2.5% during the 1st quarter. Clinton Group Inc. now owns 10,174 shares of the utilities provider’s stock worth $386,000 after buying an additional 250 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Otter Tail Corporation by 3.2% during the 2nd quarter. Principal Financial Group Inc. now owns 8,477 shares of the utilities provider’s stock worth $336,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 40.60% of the company’s stock.
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Otter Tail Corporation (NASDAQ:OTTR) traded up 0.48% during midday trading on Friday, hitting $42.05. 58,669 shares of the stock were exchanged. Otter Tail Corporation has a one year low of $33.08 and a one year high of $42.55. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 24.21 and a beta of 0.79. The company has a 50 day moving average price of $41.10 and a 200 day moving average price of $39.35.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, August 11th. Otter Tail Corporation’s payout ratio is 74.42%.
About Otter Tail Corporation
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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