Otter Tail (NASDAQ:OTTR) Announces Earnings Results

Otter Tail (NASDAQ:OTTR) issued its quarterly earnings results on Monday. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38, Briefing.com reports. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The business had revenue of $342.34 million for the quarter, compared to the consensus estimate of $367.71 million. During the same quarter in the prior year, the business posted $1.95 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Otter Tail updated its FY24 guidance to $6.77-7.07 EPS.

Otter Tail Price Performance

Shares of OTTR stock traded up $1.81 on Thursday, hitting $90.50. 166,978 shares of the company’s stock were exchanged, compared to its average volume of 227,263. The stock has a market cap of $3.78 billion, a P/E ratio of 12.43 and a beta of 0.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.92 and a quick ratio of 2.21. The company has a 50 day moving average of $89.74 and a 200 day moving average of $88.35. Otter Tail has a 12 month low of $68.96 and a 12 month high of $100.84.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.07%. Otter Tail’s dividend payout ratio is 25.69%.

Insider Buying and Selling

In other Otter Tail news, VP Paul L. Knutson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $90.66, for a total value of $362,640.00. Following the sale, the vice president now owns 20,359 shares in the company, valued at $1,845,746.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is 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.