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

Otter Tail (NASDAQ:OTTR) posted its quarterly earnings data 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. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. During the same period in the previous year, the firm posted $2.19 EPS. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.

Otter Tail Price Performance

Shares of NASDAQ OTTR traded up $5.38 during trading hours on Wednesday, reaching $86.93. 28,119 shares of the stock traded hands, compared to its average volume of 230,087. The company’s 50-day simple moving average is $78.73 and its two-hundred day simple moving average is $85.69. The company has a market capitalization of $3.64 billion, a P/E ratio of 11.02 and a beta of 0.52. Otter Tail has a 52-week low of $73.43 and a 52-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.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.468 per share. The ex-dividend date is Friday, November 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.15%. Otter Tail’s dividend payout ratio (DPR) is presently 25.27%.

Insiders Place Their Bets

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail 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 transaction, the vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

About Otter Tail

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.