Otter Tail (NASDAQ:OTTR) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Otter Tail (NASDAQ:OTTR) released 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. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The business had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million.

Otter Tail Stock Performance

NASDAQ:OTTR traded up $0.29 on Wednesday, hitting $81.96. The company’s stock had a trading volume of 11,959 shares, compared to its average volume of 231,304. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $76.58 and a two-hundred day moving average of $79.61. The firm has a market capitalization of $3.43 billion, a P/E ratio of 11.35 and a beta of 0.57. Otter Tail has a one year low of $71.66 and a one year high of $100.84.

Otter Tail Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $0.525 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.10 annualized dividend and a yield of 2.56%. Otter Tail’s dividend payout ratio is currently 29.01%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Otter Tail Company Profile

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.