FY2024 Earnings Forecast for Otter Tail Co. Issued By KeyCorp (NASDAQ:OTTR)

Otter Tail Co. (NASDAQ:OTTRGet Rating) – Equities researchers at KeyCorp lowered their FY2024 earnings estimates for shares of Otter Tail in a report issued on Monday, January 16th. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $3.45 for the year, down from their previous estimate of $3.66. The consensus estimate for Otter Tail’s current full-year earnings is $6.60 per share. KeyCorp also issued estimates for Otter Tail’s FY2025 earnings at $3.73 EPS.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Otter Tail from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Siebert Williams Shank upgraded shares of Otter Tail from a “sell” rating to a “hold” rating and set a $63.00 target price on the stock in a research note on Monday, November 28th. Finally, Maxim Group reduced their price target on shares of Otter Tail from $95.00 to $75.00 in a research report on Wednesday, November 2nd.

Otter Tail Price Performance

Otter Tail stock opened at $61.23 on Wednesday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 8.73 and a beta of 0.50. The business’s 50 day simple moving average is $58.68 and its 200 day simple moving average is $65.56. Otter Tail has a 12 month low of $52.60 and a 12 month high of $82.46. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 0.70.

Otter Tail (NASDAQ:OTTRGet Rating) last posted its quarterly earnings data on Monday, October 31st. The utilities provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.70 by $0.31. The firm had revenue of $383.86 million during the quarter, compared to analyst estimates of $389.30 million. Otter Tail had a net margin of 19.69% and a return on equity of 27.09%.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were given a dividend of $0.412 per share. The ex-dividend date was Monday, November 14th. This represents a $1.65 annualized dividend and a yield of 2.69%. Otter Tail’s payout ratio is presently 23.54%.

Insider Buying and Selling at Otter Tail

In related news, Director John D. Erickson sold 2,000 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $56.31, for a total value of $112,620.00. Following the completion of the transaction, the director now directly owns 3,633 shares in the company, valued at $204,574.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Otter Tail

A number of large investors have recently modified their holdings of OTTR. Opus Capital Group LLC bought a new position in Otter Tail during the fourth quarter valued at approximately $309,000. Wesbanco Bank Inc. bought a new stake in Otter Tail in the fourth quarter worth $544,000. Ronald Blue Trust Inc. lifted its stake in Otter Tail by 47.4% in the fourth quarter. Ronald Blue Trust Inc. now owns 538 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 173 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Otter Tail during the fourth quarter valued at about $59,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Otter Tail in the fourth quarter worth about $217,000. 49.01% of the stock is owned by hedge funds and other institutional investors.

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 and Estimates for Otter Tail (NASDAQ:OTTR)

Receive News & Ratings for Otter Tail Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail and related companies with MarketBeat.com's FREE daily email newsletter.