Otter Tail Corporation (OTTR) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Otter Tail Corporation (NASDAQ:OTTR) have been assigned an average broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokers have set a one year consensus price objective of $43.50 for the company and are expecting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also assigned Otter Tail Corporation an industry rank of 151 out of 265 based on the ratings given to its competitors.
OTTR has been the topic of a number of research analyst reports. BidaskClub downgraded Otter Tail Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Otter Tail Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th.
Otter Tail Corporation (NASDAQ OTTR) traded down 0.46% on Friday, reaching $42.85. The company had a trading volume of 64,754 shares. The company’s 50-day moving average is $41.82 and its 200-day moving average is $39.68. The company has a market capitalization of $1.70 billion, a PE ratio of 24.67 and a beta of 0.79. Otter Tail Corporation has a 52-week low of $33.08 and a 52-week high of $43.35.
Otter Tail Corporation (NASDAQ:OTTR) last posted its earnings results on Monday, August 7th. The utilities provider reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $212.10 million for the quarter, compared to the consensus estimate of $211.30 million. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. Otter Tail Corporation’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities analysts anticipate that Otter Tail Corporation will post $1.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, September 9th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 11th. This represents a $1.28 dividend on an annualized basis and a yield of 2.97%. Otter Tail Corporation’s payout ratio is 74.42%.
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In other Otter Tail Corporation news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was 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 SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Otter Tail Corporation in the second quarter worth $107,000. North Star Investment Management Corp. raised its holdings in shares of Otter Tail Corporation by 91.9% in the second quarter. North Star Investment Management Corp. now owns 2,905 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 1,391 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Otter Tail Corporation in the first quarter worth $119,000. Sei Investments Co. raised its holdings in shares of Otter Tail Corporation by 8.3% in the first quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 274 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Otter Tail Corporation in the second quarter worth $173,000. 40.60% of the stock is owned by institutional investors.
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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