Otter Tail Corporation (NASDAQ:OTTR) – Analysts at Williams Capital lifted their Q2 2018 earnings estimates for shares of Otter Tail Corporation in a research note issued on Monday. Williams Capital analyst C. Ellinghaus now forecasts that the utilities provider will post earnings per share of $0.43 for the quarter, up from their prior forecast of $0.42. Williams Capital also issued estimates for Otter Tail Corporation’s Q3 2018 earnings at $0.39 EPS and FY2019 earnings at $1.97 EPS.
Otter Tail Corporation (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, May 1st. The utilities provider reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. Otter Tail Corporation had a return on equity of 10.15% and a net margin of 8.30%. The firm had revenue of $214.10 million during the quarter, compared to analyst estimates of $211.80 million. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis.
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Several other research analysts also recently weighed in on the stock. Sidoti raised shares of Otter Tail Corporation from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a report on Friday, March 24th. Zacks Investment Research downgraded shares of Otter Tail Corporation from a “hold” rating to a “sell” rating in a report on Friday, May 5th. Finally, BidaskClub downgraded shares of Otter Tail Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd.
Otter Tail Corporation (NASDAQ OTTR) traded up 0.26% during midday trading on Tuesday, reaching $39.30. The company had a trading volume of 37,104 shares. Otter Tail Corporation has a 52 week low of $32.89 and a 52 week high of $42.55. The firm has a 50-day moving average price of $39.85 and a 200-day moving average price of $38.83. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 22.86 and a beta of 0.79.
In related news, CFO Kevin G. Moug sold 800 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $37.25, for a total value of $29,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Otter Tail Corporation during the fourth quarter valued at approximately $458,000. State Street Corp boosted its stake in shares of Otter Tail Corporation by 8.1% in the fourth quarter. State Street Corp now owns 806,626 shares of the utilities provider’s stock valued at $32,909,000 after buying an additional 60,785 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Otter Tail Corporation by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,110,534 shares of the utilities provider’s stock valued at $45,310,000 after buying an additional 3,535 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Otter Tail Corporation by 26.0% in the fourth quarter. Renaissance Technologies LLC now owns 362,900 shares of the utilities provider’s stock valued at $14,806,000 after buying an additional 74,900 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of Otter Tail Corporation by 33.4% in the fourth quarter. Guggenheim Capital LLC now owns 35,591 shares of the utilities provider’s stock valued at $1,452,000 after buying an additional 8,918 shares in the last quarter. 39.37% of the stock is owned by institutional investors and hedge funds.
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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