Otter Tail (NASDAQ:OTTR) Releases 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.

Analyst Upgrades and Downgrades

OTTR has been the topic of several research analyst reports. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday. StockNews.com cut shares of Otter Tail from a “hold” rating to a “sell” rating in a report on Wednesday.

Otter Tail Trading Down 1.8 %

NASDAQ:OTTR traded down $1.48 during mid-day trading on Friday, reaching $81.01. The company’s stock had a trading volume of 38,868 shares, compared to its average volume of 232,765. The stock has a market cap of $3.39 billion, a P/E ratio of 11.23 and a beta of 0.52. The company’s fifty day simple moving average is $78.73 and its two-hundred day simple moving average is $85.67. Otter Tail has a twelve month low of $73.43 and a twelve month high of $100.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The firm had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a return on equity of 20.28% and a net margin of 22.70%. During the same quarter last year, the firm earned $2.19 earnings per share. On average, equities analysts predict that Otter Tail will post 7.01 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio is presently 25.83%.

Insider Transactions at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.