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. This segment generates electricity through coal, wind and hydro, and natural gas. It serves approximately 133,000 residential, industrial, and other commercial customers. Its Manufacturing segment engages in the contract machining, metal parts stamping, fabrication and painting, and production of plastic thermoformed horticultural containers, life science and industrial packaging, and material handling components, and extruded raw material stock for recreational vehicle, agricultural, construction, lawn and garden, and industrial and energy equipment industries. It also manufactures clamshell packing, blister packs, returnable pallets, and handling trays for shipping and storing odd-shaped or difficult-to-handle parts for customers in the horticulture, medical and life sciences, industrial, recreation, and electronics industries. The company's Plastics segment manufactures polyvinyl chloride pipes for municipal water, rural water, wastewater, storm drainage and water reclamation system, and other uses. This segment markets its products to wholesalers and distributors through independent sales representatives, company salespersons, and customer service representatives. The company was formerly known as Otter Tail Power Company and changed its name to Otter Tail Corporation in 2001. Otter Tail Corporation was founded in 1907 and is headquartered in Fergus Falls, Minnesota.
Otter Tail Stock Performance
Shares of OTTR opened at $81.72 on Friday. The stock has a 50-day simple moving average of $69.49 and a 200-day simple moving average of $65.02. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.64. The stock has a market capitalization of $3.40 billion, a PE ratio of 13.05 and a beta of 0.46. Otter Tail has a 1 year low of $52.49 and a 1 year high of $82.46.
Otter Tail (NASDAQ:OTTR - Get Rating) last announced 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. The business had revenue of $400.04 million during the quarter, compared to analysts' expectations of $336.87 million. Otter Tail had a return on equity of 25.55% and a net margin of 18.42%. The business's quarterly revenue was up 40.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, analysts predict that Otter Tail will post 7.08 earnings per share for the current fiscal year.
Otter Tail Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be paid a dividend of $0.412 per share. This represents a $1.65 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, August 12th. Otter Tail's payout ratio is 26.36%.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. StockNews.com upgraded Otter Tail from a "hold" rating to a "buy" rating in a research report on Friday. Siebert Williams Shank lowered Otter Tail from a "hold" rating to a "sell" rating and raised their price objective for the company from $62.00 to $64.00 in a report on Wednesday, August 3rd.