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

Otter Tail (NASDAQ:OTTR) 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 Otter Tail stock traded up $4.35 during trading on Wednesday, reaching $85.90. The company’s stock had a trading volume of 372,909 shares, compared to its average volume of 231,637. Otter Tail has a one year low of $73.43 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 11.02 and a beta of 0.52. The business’s fifty day moving average price is $78.73 and its 200-day moving average price is $85.69.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The company had revenue of $338.03 million during the quarter, compared to analysts’ expectations of $362.20 million. During the same period in the prior year, the business earned $2.19 earnings per share. As a group, equities research analysts predict that Otter Tail will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The business 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. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, November 15th. Otter Tail’s dividend payout ratio is currently 25.27%.

Insider Buying and Selling

In other news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction that occurred 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 directly owns 12,300 shares in the company, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their ownership of the stock. 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 company insiders.

About Otter Tail

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.