Williams Capital Equities Analysts Increase Earnings Estimates for Otter Tail Corporation (OTTR)

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).

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

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