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

by · The Markets Daily

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

Otter Tail Price Performance

Shares of OTTR traded down $1.09 during trading hours on Thursday, hitting $84.43. 33,000 shares of the company were exchanged, compared to its average volume of 232,093. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 11.81 and a beta of 0.52. Otter Tail has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. 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 firm’s fifty day moving average is $78.75 and its 200 day moving average is $85.69.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is currently 25.83%.

Analysts Set New Price Targets

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

Read Our Latest Analysis on OTTR

Insider Buying and Selling

In related news, VP Jennifer O. Smestad sold 4,000 shares of the company’s stock in a transaction 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 $1,091,502. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.

Otter Tail Company Profile

(Get Free Report)

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.

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