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 Trading Up 0.7 %
Shares of OTTR traded up $0.57 during mid-day trading on Thursday, reaching $82.00. 546 shares of the company were exchanged, compared to its average volume of 180,995. The business has a 50 day simple moving average of $69.20 and a two-hundred day simple moving average of $64.90. 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 $3.41 billion, a PE ratio of 13.01 and a beta of 0.46. Otter Tail has a 52 week low of $52.49 and a 52 week high of $82.04.
Otter Tail (NASDAQ:OTTR - Get Rating) last released its quarterly earnings results on Monday, August 1st. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.50. Otter Tail had a net margin of 18.42% and a return on equity of 25.55%. The firm had revenue of $400.04 million during the quarter, compared to analyst estimates of $336.87 million. During the same quarter last year, the business earned $1.01 EPS. The company's revenue was up 40.1% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.412 per share. The ex-dividend date is Friday, August 12th. This represents a $1.65 dividend on an annualized basis and a yield of 2.01%. Otter Tail's payout ratio is currently 26.36%.
Analyst Ratings Changes
A number of brokerages recently weighed in on OTTR. StockNews.com upgraded Otter Tail from a "hold" rating to a "buy" rating in a research report on Thursday, August 11th. Siebert Williams Shank downgraded shares of Otter Tail from a "hold" rating to a "sell" rating and lifted their target price for the stock from $62.00 to $64.00 in a research report on Wednesday, August 3rd.