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

Otter Tail (NASDAQ:OTTR) released its quarterly earnings results on Monday. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06, Zacks reports. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The firm had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the business posted $2.19 EPS. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.

Otter Tail Stock Performance

Shares of Otter Tail stock traded down $0.43 during trading on Tuesday, reaching $78.10. The company’s stock had a trading volume of 119,433 shares, compared to its average volume of 229,027. The company has a 50-day moving average price of $78.84 and a two-hundred day moving average price of $85.71. Otter Tail has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The firm has a market cap of $3.27 billion, a PE ratio of 10.61 and a beta of 0.52. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60.

Insider Transactions at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the transaction, the vice president now directly owns 12,300 shares of the company’s stock, valued at $1,091,502. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.