Otter Tail (NASDAQ:OTTR) Issues FY 2022 Earnings Guidance

Otter Tail (NASDAQ:OTTRGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.83-$7.13 for the period, compared to the consensus EPS estimate of $5.09. The company issued revenue guidance of -.

Otter Tail Stock Performance

OTTR stock traded down $1.31 during midday trading on Friday, reaching $75.74. 149,905 shares of the company’s stock traded hands, compared to its average volume of 158,758. The company has a 50-day moving average price of $67.08 and a two-hundred day moving average price of $63.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.69 and a current ratio of 1.08. Otter Tail has a 52 week low of $52.49 and a 52 week high of $78.83. The firm has a market capitalization of $3.15 billion, a PE ratio of 12.10 and a beta of 0.46.

Otter Tail (NASDAQ:OTTRGet Rating) last released its quarterly earnings results on Monday, August 1st. The utilities provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.50. The firm had revenue of $400.04 million during the quarter, compared to analyst estimates of $336.87 million. Otter Tail had a net margin of 18.42% and a return on equity of 26.32%. The business’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. As a group, equities analysts anticipate that Otter Tail will post 6.98 EPS for the current year.

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a dividend of $0.412 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.18%. Otter Tail’s dividend payout ratio (DPR) is currently 26.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of Otter Tail from a buy rating to a hold rating in a research report on Wednesday. Siebert Williams Shank lowered shares of Otter Tail from a hold rating to a sell rating and upped their target price for the stock from $62.00 to $64.00 in a research report on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Otter Tail by 16.9% during the first quarter. JPMorgan Chase & Co. now owns 122,535 shares of the utilities provider’s stock valued at $7,659,000 after buying an additional 17,716 shares during the period. Raymond James & Associates boosted its position in Otter Tail by 4.7% during the first quarter. Raymond James & Associates now owns 17,234 shares of the utilities provider’s stock valued at $1,077,000 after buying an additional 779 shares during the period. Bank of New York Mellon Corp boosted its position in Otter Tail by 3.7% during the first quarter. Bank of New York Mellon Corp now owns 400,321 shares of the utilities provider’s stock valued at $25,021,000 after buying an additional 14,462 shares during the period. American Century Companies Inc. boosted its position in Otter Tail by 24.2% during the first quarter. American Century Companies Inc. now owns 5,832 shares of the utilities provider’s stock valued at $364,000 after buying an additional 1,136 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Otter Tail by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,438 shares of the utilities provider’s stock valued at $402,000 after buying an additional 310 shares during the period. 46.58% of the stock is currently 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.

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Earnings History and Estimates for Otter Tail (NASDAQ:OTTR)

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