Otter Tail (NASDAQ:OTTR) Issues FY 2022 Earnings Guidance

Otter Tail (NASDAQ:OTTRGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.83-$7.13 for the period, compared to the consensus EPS estimate of $5.09. The company issued revenue guidance of -.

Otter Tail Stock Down 1.7 %

Shares of NASDAQ:OTTR traded down $1.31 during trading on Friday, reaching $75.74. 149,905 shares of the company traded hands, compared to its average volume of 158,758. The firm has a fifty day simple moving average of $67.08 and a 200 day simple moving average of $63.92. The firm has a market cap of $3.15 billion, a P/E ratio of 12.10 and a beta of 0.46. Otter Tail has a 1-year low of $52.49 and a 1-year high of $78.83. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

Otter Tail (NASDAQ:OTTRGet Rating) last released its quarterly earnings data on Monday, August 1st. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.50. Otter Tail had a net margin of 18.42% and a return on equity of 26.32%. The business had revenue of $400.04 million during the quarter, compared to analyst estimates of $336.87 million. During the same quarter in the previous year, the business earned $1.01 EPS. Otter Tail’s quarterly revenue was up 40.1% compared to the same quarter last year. Analysts anticipate that Otter Tail will post 6.98 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.412 per share. The ex-dividend date is Friday, August 12th. This represents a $1.65 annualized dividend and a dividend yield of 2.18%. Otter Tail’s dividend payout ratio (DPR) is presently 26.36%.

Analyst Ratings Changes

Several analysts have recently issued reports on OTTR shares. Siebert Williams Shank downgraded Otter Tail from a hold rating to a sell rating and upped their price target for the stock from $62.00 to $64.00 in a research note on Wednesday. StockNews.com downgraded Otter Tail from a buy rating to a hold rating in a research note on Wednesday.

Hedge Funds Weigh In On Otter Tail

Large investors have recently made changes to their positions in the business. Mirabella Financial Services LLP acquired a new position in shares of Otter Tail during the 1st quarter worth about $219,000. Mackenzie Financial Corp acquired a new position in Otter Tail in the 1st quarter valued at approximately $228,000. Private Advisor Group LLC acquired a new position in Otter Tail in the 1st quarter valued at approximately $318,000. Quantbot Technologies LP acquired a new position in Otter Tail in the 1st quarter valued at approximately $319,000. Finally, American Century Companies Inc. raised its holdings in Otter Tail by 24.2% in the 1st quarter. American Century Companies Inc. now owns 5,832 shares of the utilities provider’s stock valued at $364,000 after acquiring an additional 1,136 shares in the last quarter. Institutional investors and hedge funds own 46.58% of the company’s stock.

Otter Tail Company Profile

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Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.

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

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