Otter Tail (NASDAQ:OTTR) Announces Earnings Results

Otter Tail (NASDAQ:OTTR) issued its earnings results on Monday. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06, Zacks reports. The company 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 last year, the business posted $2.19 EPS. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.

Otter Tail Stock Down 1.3 %

OTTR stock traded down $1.09 during mid-day trading on Thursday, reaching $84.43. 33,000 shares of the company traded hands, compared to its average volume of 232,093. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 11.81 and a beta of 0.52. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. Otter Tail has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The firm’s 50 day moving average price is $78.75 and its 200 day moving average price is $85.69.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.22%. Otter Tail’s dividend payout ratio (DPR) is currently 25.83%.

Insider Buying and Selling at Otter Tail

In related 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 sale, the vice president now owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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.