Otter Tail (NASDAQ:OTTR) Announces Quarterly Earnings Results

Otter Tail (NASDAQ:OTTR) posted its quarterly earnings data on Monday. The utilities provider reported $1.30 earnings per share 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 analysts’ expectations of $314.75 million.

Otter Tail Price Performance

NASDAQ OTTR traded up $0.36 during trading on Wednesday, reaching $82.03. The company’s stock had a trading volume of 8,401 shares, compared to its average volume of 231,202. The stock has a market capitalization of $3.43 billion, a PE ratio of 11.33 and a beta of 0.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The firm has a fifty day moving average of $76.58 and a 200 day moving average of $79.61. 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 announced 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. This represents a $2.10 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, February 14th. Otter Tail’s dividend payout ratio is currently 29.01%.

Wall Street Analysts Forecast Growth

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

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.