Otter Tail (OTTR) Scheduled to Post Earnings on Monday

Otter Tail (NASDAQ:OTTRGet Rating) will announce its earnings results after the market closes on Monday, August 1st. Analysts expect the company to announce earnings of $1.27 per share for the quarter. Otter Tail has set its FY22 guidance at $5.15-5.45 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Otter Tail (NASDAQ:OTTRGet Rating) last released its quarterly earnings data on Monday, May 2nd. The utilities provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.16 by $0.56. The company had revenue of $374.90 million during the quarter, compared to the consensus estimate of $334.90 million. Otter Tail had a return on equity of 22.37% and a net margin of 16.67%. During the same period last year, the company earned $0.73 EPS. On average, analysts expect Otter Tail to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Otter Tail Stock Performance

Otter Tail stock opened at $65.84 on Monday. The business has a 50-day simple moving average of $65.47 and a two-hundred day simple moving average of $63.40. The company has a market cap of $2.74 billion, a P/E ratio of 12.61 and a beta of 0.46. Otter Tail has a 52-week low of $48.96 and a 52-week high of $71.89. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

Otter Tail Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 13th were issued a $0.412 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $1.65 dividend on an annualized basis and a yield of 2.50%. Otter Tail’s dividend payout ratio is presently 31.61%.

Institutional Investors Weigh In On Otter Tail

A number of hedge funds have recently made changes to their positions in OTTR. Bank of Montreal Can raised its stake in Otter Tail by 2.8% in the first quarter. Bank of Montreal Can now owns 6,192 shares of the utilities provider’s stock valued at $395,000 after buying an additional 167 shares during the last quarter. First Manhattan Co. grew its holdings in Otter Tail by 0.3% during the first quarter. First Manhattan Co. now owns 65,927 shares of the utilities provider’s stock worth $4,120,000 after acquiring an additional 200 shares during the period. Sei Investments Co. grew its holdings in Otter Tail by 0.9% during the first quarter. Sei Investments Co. now owns 29,515 shares of the utilities provider’s stock worth $1,845,000 after acquiring an additional 255 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Otter Tail by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,438 shares of the utilities provider’s stock valued at $402,000 after purchasing an additional 310 shares during the period. Finally, Zebra Capital Management LLC grew its holdings in Otter Tail by 2.7% in the first quarter. Zebra Capital Management LLC now owns 14,897 shares of the utilities provider’s stock valued at $931,000 after purchasing an additional 386 shares during the period. 46.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Otter Tail from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th.

Otter Tail Company Profile

(Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc markets.

Further Reading

Earnings History for Otter Tail (NASDAQ:OTTR)

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