Otter Tail plunges after results, lowered outlook

Otter Tail

01/11/2022 15:49

** Otter Tail  OTTR.O  shares down 9.31% at $61.14
    ** The holding company for electric energy as well as metal
and plastic parts manufacturing is on track for its biggest
one-day pct drop since March 
    ** OTTR posted Q3 EPS of $2.01 on revenue of $386.8 mln vs
estimates of $1.82 per share and revenue of $357.8 mln, pre
Refinitiv data
    ** However, OTTR also cut its 2022 EPS view to between
$6.42-$6.72, well below Street view of $7.04 per share
    ** OTTR shares earlier hit session low of $58.58, lowest
level since May 2
    ** Median price target of $65 is down from $74 a month ago
 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))