What is KeyCorp’s Estimate for Otter Tail FY2024 Earnings?

Otter Tail Co. (NASDAQ:OTTR) – Analysts at KeyCorp lifted their FY2024 earnings per share estimates for Otter Tail in a report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $7.13 per share for the year, up from their previous forecast of $7.01. The consensus estimate for Otter Tail’s current full-year earnings is $7.01 per share. KeyCorp also issued estimates for Otter Tail’s Q4 2024 earnings at $1.26 EPS, FY2026 earnings at $3.56 EPS, FY2027 earnings at $3.79 EPS and FY2028 earnings at $4.03 EPS.

A number of other equities research analysts have also commented on the company. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Otter Tail Price Performance

OTTR opened at $77.68 on Thursday. The company has a fifty day simple moving average of $79.16 and a 200 day simple moving average of $84.38. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.25 billion, a P/E ratio of 10.73 and a beta of 0.54. Otter Tail has a 12 month low of $73.43 and a 12 month high of $100.84.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter last year, the firm earned $2.19 EPS.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in Otter Tail during the 3rd quarter worth approximately $6,484,000. International Assets Investment Management LLC boosted its holdings in Otter Tail by 3,339.9% during the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after purchasing an additional 74,212 shares during the last quarter. Edgestream Partners L.P. grew its position in Otter Tail by 2,055.2% in the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after purchasing an additional 64,554 shares in the last quarter. Barclays PLC lifted its position in Otter Tail by 359.8% during the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after buying an additional 55,210 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in Otter Tail during the 3rd quarter worth about $2,947,000. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.468 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.41%. Otter Tail’s dividend payout ratio (DPR) is 25.83%.

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.