Earnings results for Marine Products (NASDAQ:OTTR)
Otter Tail Corporation is expected* to report earnings on 11/02/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.68. The reported EPS for the same quarter last year was $0.62.
Otter Tail last released its earnings results on August 3rd, 2020. The utilities provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.32 by $0.10. The business earned $192.76 million during the quarter, compared to analyst estimates of $204.93 million. Its revenue was down 15.9% compared to the same quarter last year. Otter Tail has generated $2.17 earnings per share over the last year and currently has a price-to-earnings ratio of 17.8. Otter Tail has confirmed that its next quarterly earnings report will be published on Monday, November 2nd, 2020.
Analyst Opinion on Marine Products (NASDAQ:OTTR)
5 Wall Street analysts have issued ratings and price targets for Otter Tail in the last 12 months. Their average twelve-month price target is $49.50, predicting that the stock has a possible upside of 29.07%. The high price target for OTTR is $55.00 and the low price target for OTTR is $45.00. There are currently 2 hold ratings and 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Otter Tail has received a consensus rating of Buy. The company’s average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $49.50, Otter Tail has a forecasted upside of 29.1% from its current price of $38.35. Otter Tail has only been the subject of 2 research reports in the past 90 days.
Dividend Strength: Marine Products (NASDAQ:OTTR)
Otter Tail pays a meaningful dividend of 3.86%, higher than the bottom 25% of all stocks that pay dividends. Otter Tail does not have a long track record of dividend growth. The dividend payout ratio of Otter Tail is 68.20%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Otter Tail will have a dividend payout ratio of 63.79% next year. This indicates that Otter Tail will be able to sustain or increase its dividend.
Insiders buying/selling: Marine Products (NASDAQ:OTTR)
In the past three months, Otter Tail insiders have not sold or bought any company stock. Only 1.70% of the stock of Otter Tail is held by insiders. 46.10% of the stock of Otter Tail is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Marine Products (NASDAQ:OTTR
Earnings for Otter Tail are expected to grow by 2.65% in the coming year, from $2.26 to $2.32 per share. The P/E ratio of Otter Tail is 17.84, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 18.59. The P/E ratio of Otter Tail is 17.84, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 20.64. Otter Tail has a P/B Ratio of 1.95. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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