Otter Tail Corporation (NASDAQ:OTTR) announced its quarterly earnings results on Monday. The utilities provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02, Bloomberg Earnings reports. The business had revenue of $212.10 million for the quarter, compared to analyst estimates of $211.30 million. Otter Tail Corporation had a return on equity of 10.15% and a net margin of 8.30%. Otter Tail Corporation’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS.
Otter Tail Corporation (NASDAQ:OTTR) opened at 40.50 on Tuesday. Otter Tail Corporation has a 12 month low of $32.99 and a 12 month high of $42.55. The firm has a 50-day moving average price of $40.22 and a 200 day moving average price of $38.74. The company has a market cap of $1.60 billion, a P/E ratio of 23.56 and a beta of 0.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Shareholders of record on Tuesday, August 15th will be given a $0.32 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.28 annualized dividend and a yield of 3.16%. Otter Tail Corporation’s payout ratio is 74.85%.
In related news, CFO Kevin G. Moug sold 800 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $37.25, for a total transaction of $29,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
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Several brokerages recently commented on OTTR. BidaskClub lowered Otter Tail Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised Otter Tail Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th.
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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