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

Otter Tail (NASDAQ:OTTR) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 Stock Performance

Otter Tail stock traded down $0.70 during midday trading on Tuesday, reaching $91.47. The stock had a trading volume of 150,073 shares, compared to its average volume of 225,818. The firm has a market capitalization of $3.82 billion, a PE ratio of 12.59 and a beta of 0.55. The firm’s 50-day moving average price is $89.68 and its 200 day moving average price is $88.26. Otter Tail has a 12 month low of $68.96 and a 12 month high of $100.84. The company has a quick ratio of 2.21, a current ratio of 2.92 and a debt-to-equity ratio of 0.63.

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

Insiders Place Their Bets

In other Otter Tail news, VP Paul L. Knutson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $90.66, for a total transaction of $362,640.00. Following the completion of the transaction, the vice president now owns 20,359 shares in the company, valued at approximately $1,845,746.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

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.