Otter Tail (NASDAQ:OTTR) Issues Earnings Results, Beats Estimates By $0.38 EPS

Otter Tail (NASDAQ:OTTR) announced its quarterly earnings data on Monday. The utilities provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38, Briefing.com reports. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The firm had revenue of $342.34 million during the quarter, compared to analysts’ expectations of $367.71 million. During the same quarter last year, the firm posted $1.95 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. Otter Tail updated its FY24 guidance to $6.77-7.07 EPS.

Otter Tail Stock Performance

NASDAQ OTTR traded down $0.21 on Wednesday, hitting $90.02. 78,104 shares of the stock traded hands, compared to its average volume of 226,330. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.21 and a current ratio of 2.92. The business’s fifty day moving average is $89.73 and its two-hundred day moving average is $88.34. Otter Tail has a 12 month low of $68.96 and a 12 month high of $100.84. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.39 and a beta of 0.55.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.468 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.08%. Otter Tail’s payout ratio is currently 25.69%.

Insider Buying and Selling

In other news, VP Paul L. Knutson sold 4,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $90.66, for a total value of $362,640.00. Following the completion of the transaction, the vice president now directly owns 20,359 shares of the company’s stock, valued at $1,845,746.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

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.