Otter Tail (NASDAQ:OTTR) Issues FY24 Earnings Guidance

Otter Tail (NASDAQ:OTTR) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $6.97-7.17 for the period, compared to the consensus EPS estimate of $7.10.

Otter Tail Price Performance

Shares of Otter Tail stock traded up $3.19 on Tuesday, reaching $81.72. The company’s stock had a trading volume of 390,981 shares, compared to its average volume of 230,296. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.42 billion, a P/E ratio of 10.61 and a beta of 0.52. The stock has a 50-day moving average price of $78.84 and a 200-day moving average price of $85.71. Otter Tail has a 52-week low of $73.43 and a 52-week high of $100.84.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million during the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. During the same quarter in the previous year, the firm earned $2.19 EPS. Analysts expect that Otter Tail will post 7.01 EPS for the current year.

Insider Activity at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate 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.