Otter Tail (NASDAQ:OTTR) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Otter Tail (NASDAQ:OTTR) released its quarterly earnings data on Monday. The utilities provider reported $1.41 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.14), Zacks reports. The business had revenue of $320.51 million during the quarter, compared to analysts’ expectations of $327.87 million. Otter Tail had a return on equity of 14.56% and a net margin of 14.83%. Otter Tail’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share.

Otter Tail Stock Performance

Shares of OTTR opened at $91.51 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.36 and a current ratio of 1.71. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 19.72 and a beta of 0.42. The company’s 50 day simple moving average is $89.42 and its 200 day simple moving average is $88.81. Otter Tail has a 1 year low of $74.15 and a 1 year high of $95.09.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be paid a dividend of $0.5775 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.31 annualized dividend and a dividend yield of 2.5%. Otter Tail’s dividend payout ratio is presently 49.78%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Otter Tail from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $86.00.

Otter Tail Company Profile

Otter Tail Corporation is a diversified company headquartered in Fergus Falls, Minnesota. Through its electric utility subsidiary, Otter Tail Power Company, it generates, transmits and distributes electricity to residential, commercial, industrial and agricultural customers.

Otter Tail Power Company serves customers across portions of western Minnesota, eastern North Dakota and northeastern South Dakota. Its generation portfolio includes coal, natural gas, wind and other energy resources, supporting the company’s role as a regional provider of electric power and related utility services.

Beyond its utility operations, Otter Tail Corporation owns manufacturing businesses that produce fabricated metal components, plastic products and other specialized goods.