Otter Tail (NASDAQ:OTTR) Posts Earnings Results, Beats Estimates By $0.06 EPS

Otter Tail (NASDAQ:OTTR) released its quarterly earnings results on Monday. The utilities provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06, Zacks reports. Otter Tail had a net margin of 22.70% and a return on equity of 20.28%. The firm had revenue of $338.03 million during the quarter, compared to analysts’ expectations of $362.20 million. During the same period in the previous year, the company earned $2.19 EPS. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.

Otter Tail Price Performance

OTTR traded down $2.30 during trading on Thursday, hitting $83.22. The company’s stock had a trading volume of 39,496 shares, compared to its average volume of 232,123. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60. Otter Tail has a twelve month low of $73.43 and a twelve month high of $100.84. The business’s fifty day simple moving average is $78.75 and its 200 day simple moving average is $85.69. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 11.81 and a beta of 0.52.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, November 15th. Otter Tail’s payout ratio is currently 25.83%.

Insider Buying and Selling at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value of $354,960.00. Following the sale, the vice president now directly owns 12,300 shares of the company’s stock, valued at $1,091,502. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Otter Tail from a “hold” rating to a “sell” rating in a report 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.