Otter Tail (NASDAQ:OTTR) Issues Earnings Results, Beats Estimates By $0.04 EPS

Otter Tail (NASDAQ:OTTR) issued its earnings results on Monday. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04, Zacks reports. The company had revenue of $303.11 million for the quarter, compared to analysts’ expectations of $314.75 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%.

Otter Tail Stock Performance

Shares of Otter Tail stock traded down $0.74 on Wednesday, hitting $80.93. 20,817 shares of the company’s stock were exchanged, compared to its average volume of 231,452. Otter Tail has a 1 year low of $71.66 and a 1 year high of $100.84. The company has a 50-day simple moving average of $76.58 and a 200-day simple moving average of $79.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The stock has a market capitalization of $3.39 billion, a PE ratio of 11.22 and a beta of 0.57.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.525 per share. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Friday, February 14th. Otter Tail’s dividend payout ratio is currently 29.01%.

Analyst Ratings Changes

OTTR has been the topic of a number of research reports. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The 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 markets.