Zacks: Otter Tail Corporation (OTTR) Given $43.50 Average Price Target by Brokerages
Shares of Otter Tail Corporation (NASDAQ:OTTR) have received a consensus broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company.
Analysts have set a twelve-month consensus price target of $43.50 for the company and are expecting that the company will post $0.46 earnings per share for the current quarter, according to Zacks. Zacks has also given Otter Tail Corporation an industry rank of 192 out of 265 based on the ratings given to related companies.
Several analysts have weighed in on OTTR shares. Zacks Investment Research lowered shares of Otter Tail Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub upgraded shares of Otter Tail Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, KeyCorp reiterated a “hold” rating on shares of Otter Tail Corporation in a research note on Friday, October 20th.
In other news, VP George A. Koeck sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $46.50, for a total transaction of $139,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin G. Moug sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total transaction of $69,750.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. bought a new position in shares of Otter Tail Corporation during the second quarter worth about $107,000. North Star Investment Management Corp. grew its position in shares of Otter Tail Corporation by 91.9% during 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. grew its position in shares of Otter Tail Corporation by 9.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 309 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Otter Tail Corporation during the second quarter worth about $173,000. Finally, Amalgamated Bank bought a new position in shares of Otter Tail Corporation during the third quarter worth about $212,000. Institutional investors and hedge funds own 40.60% of the company’s stock.
Shares of Otter Tail Corporation (OTTR) opened at $45.95 on Monday. The stock has a market cap of $1,817.67, a price-to-earnings ratio of 25.53 and a beta of 0.81. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. Otter Tail Corporation has a twelve month low of $35.65 and a twelve month high of $47.45.
Otter Tail Corporation (NASDAQ:OTTR) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.06. Otter Tail Corporation had a net margin of 8.53% and a return on equity of 10.47%. The firm had revenue of $216.50 million during the quarter, compared to analyst estimates of $201.70 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities analysts predict that Otter Tail Corporation will post 1.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.28 annualized dividend and a yield of 2.79%. Otter Tail Corporation’s payout ratio is 71.11%.
Otter Tail Corporation 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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