Otter Tail (NASDAQ:OTTR) Releases Earnings Results, Beats Estimates By $0.06 EPS

Otter Tail (NASDAQ:OTTR) issued its earnings results on Monday. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06, Zacks reports. The business had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a return on equity of 20.28% and a net margin of 22.70%. During the same period in the prior year, the business posted $2.19 EPS. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.

Otter Tail Price Performance

NASDAQ:OTTR traded down $2.30 during trading hours on Thursday, reaching $83.22. 39,496 shares of the company traded hands, compared to its average volume of 232,123. The firm’s 50-day moving average is $78.75 and its 200-day moving average is $85.69. The stock has a market cap of $3.48 billion, a P/E ratio of 11.81 and a beta of 0.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. Otter Tail has a 1-year low of $73.43 and a 1-year high of $100.84.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is presently 25.83%.

Insider Buying and Selling at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the sale, the vice president now owns 12,300 shares in the company, valued at $1,091,502. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Otter Tail from a “hold” rating to a “sell” rating in a research note on Wednesday.

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.