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

Otter Tail (NASDAQ:OTTR) updated its FY 2024 earnings guidance on Monday. 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 Trading Up 0.6 %

OTTR stock traded up $0.44 during midday trading on Monday, hitting $78.53. The stock had a trading volume of 206,228 shares, compared to its average volume of 229,542. Otter Tail has a 12-month low of $74.09 and a 12-month high of $100.84. The firm has a market cap of $3.28 billion, a PE ratio of 10.61 and a beta of 0.52. The company’s 50-day moving average price is $78.84 and its 200 day moving average price is $85.71. 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 (NASDAQ:OTTR) last released its earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.38. The firm had revenue of $342.34 million for the quarter, compared to the consensus estimate of $367.71 million. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 earnings per share. On average, equities research analysts predict that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Insider Transactions at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of the business’s 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 completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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.