Otter Tail (NASDAQ:OTTR) Releases FY 2024 Earnings Guidance

Otter Tail (NASDAQ:OTTR) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 6.770-7.070 for the period, compared to the consensus EPS estimate of 6.370. The company issued revenue guidance of -.

Otter Tail Trading Up 2.0 %

OTTR stock opened at $90.50 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.21 and a current ratio of 2.92. The company has a market capitalization of $3.78 billion, a PE ratio of 12.43 and a beta of 0.55. The company’s 50 day moving average price is $89.74 and its two-hundred day moving average price is $88.35. Otter Tail has a one year low of $68.96 and a one year high of $100.84.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. The company had revenue of $342.34 million during the quarter, compared to analyst estimates of $367.71 million. Otter Tail had a net margin of 22.55% and a return on equity of 21.58%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 EPS. As a group, analysts predict that Otter Tail will post 6.35 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, August 15th. Otter Tail’s dividend payout ratio is currently 25.69%.

Insiders Place Their Bets

In other Otter Tail news, VP Paul L. Knutson sold 4,000 shares of the stock in a transaction on Friday, May 24th. The stock was 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 owns 20,359 shares in the company, valued at $1,845,746.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by company 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.