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

by · The Markets Daily

Otter Tail (NASDAQ:OTTR – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 6.970-7.170 for the period, compared to the consensus earnings per share estimate of 7.100. The company issued revenue guidance of -.

Otter Tail Stock Performance

Shares of OTTR stock traded up $4.35 during trading hours on Wednesday, reaching $85.90. The stock had a trading volume of 372,909 shares, compared to its average volume of 231,637. The firm has a 50-day simple moving average of $78.73 and a 200-day simple moving average of $85.69. The firm has a market capitalization of $3.59 billion, a PE ratio of 11.02 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 twelve month low of $73.43 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR – Get Free Report) last announced its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The firm had revenue of $338.03 million during the quarter, compared to analyst estimates of $362.20 million. During the same quarter in the prior year, the firm posted $2.19 EPS. As a group, equities analysts forecast that Otter Tail will post 7.01 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.18%. Otter Tail’s dividend payout ratio (DPR) is 25.27%.

Insider Transactions at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the transaction, the vice president now directly owns 12,300 shares of the company’s stock, valued at $1,091,502. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by insiders.

Otter Tail Company Profile

(Get Free Report)

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.

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