Otter Tail (NASDAQ:OTTR – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $6.97-7.17 for the period, compared to the consensus earnings per share estimate of $7.10.
Otter Tail Stock Performance
NASDAQ OTTR traded up $3.97 on Wednesday, hitting $85.52. 658,589 shares of the stock were exchanged, compared to its average volume of 233,019. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. The business’s fifty day moving average is $78.75 and its 200 day moving average is $85.69. Otter Tail has a 52 week low of $73.43 and a 52 week high of $100.84. The company has a market capitalization of $3.58 billion, a PE ratio of 11.81 and a beta of 0.52.
Otter Tail (NASDAQ:OTTR – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 20.28%. The business had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. During the same period in the prior year, the company posted $2.19 earnings per share. Research analysts anticipate that Otter Tail will post 7.01 EPS for the current fiscal year.
Otter Tail Dividend Announcement
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Otter Tail from a “hold” rating to a “sell” rating in a report on Wednesday.
Read Our Latest Analysis on OTTR
Insider Transactions at Otter Tail
In related news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction 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 owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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.
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