Zacks: Analysts Anticipate Otter Tail Corporation (OTTR) to Announce $0.39 EPS
Brokerages expect Otter Tail Corporation (NASDAQ:OTTR) to announce $0.39 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Otter Tail Corporation’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.38. Otter Tail Corporation posted earnings of $0.37 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 5.4%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Otter Tail Corporation will report full-year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.76. For the next fiscal year, analysts forecast that the company will report earnings of $1.82 per share, with EPS estimates ranging from $1.80 to $1.83. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Otter Tail Corporation.
Otter Tail Corporation (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Otter Tail Corporation had a net margin of 8.35% and a return on equity of 10.14%. The business had revenue of $212.10 million during the quarter, compared to analyst estimates of $211.30 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis.
OTTR has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Otter Tail Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Friday, September 15th. BidaskClub downgraded shares of Otter Tail Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, KeyCorp reiterated a “hold” rating on shares of Otter Tail Corporation in a report on Friday, October 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Otter Tail Corporation presently has an average rating of “Hold” and a consensus price target of $43.33.
In other news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $41.75, for a total value of $62,625.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of OTTR. BlackRock Inc. increased its holdings in shares of Otter Tail Corporation by 20,638.1% in the 1st quarter. BlackRock Inc. now owns 2,477,375 shares of the utilities provider’s stock worth $93,893,000 after buying an additional 2,465,429 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Otter Tail Corporation in the 2nd quarter worth about $8,762,000. Vanguard Group Inc. increased its holdings in shares of Otter Tail Corporation by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,433,149 shares of the utilities provider’s stock worth $130,116,000 after buying an additional 151,826 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Otter Tail Corporation by 29.7% in the 2nd quarter. Renaissance Technologies LLC now owns 555,510 shares of the utilities provider’s stock worth $21,998,000 after buying an additional 127,110 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Otter Tail Corporation by 8.3% in the 2nd quarter. Northern Trust Corp now owns 956,660 shares of the utilities provider’s stock worth $37,885,000 after buying an additional 72,974 shares during the last quarter. Hedge funds and other institutional investors own 40.48% of the company’s stock.
WARNING: “Zacks: Analysts Anticipate Otter Tail Corporation (OTTR) to Announce $0.39 EPS” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://theolympiareport.com/2017/11/01/zacks-analysts-anticipate-otter-tail-corporation-ottr-to-announce-0-39-eps.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Otter Tail Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.