Otter Tail (NASDAQ:OTTR) Issues Earnings Results

Otter Tail (NASDAQ:OTTR) announced its earnings results on Monday. The utilities provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38, Briefing.com reports. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The firm had revenue of $342.34 million for the quarter, compared to the consensus estimate of $367.71 million. During the same quarter in the previous year, the business earned $1.95 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. Otter Tail updated its FY24 guidance to $6.77-7.07 EPS.

Otter Tail Trading Down 0.2 %

OTTR stock traded down $0.21 during midday trading on Wednesday, hitting $90.02. The company had a trading volume of 78,104 shares, compared to its average volume of 226,330. The company has a current ratio of 2.92, a quick ratio of 2.21 and a debt-to-equity ratio of 0.63. Otter Tail has a 52 week low of $68.96 and a 52 week high of $100.84. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 12.39 and a beta of 0.55. The stock’s 50 day moving average price is $89.73 and its 200 day moving average price is $88.34.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.468 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.08%. Otter Tail’s payout ratio is 25.69%.

Insider Buying and Selling

In other Otter Tail news, VP Paul L. Knutson sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $90.66, for a total value of $362,640.00. Following the completion of the transaction, the vice president now directly owns 20,359 shares in the company, valued at $1,845,746.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by insiders.

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.