Otter Tail (NASDAQ:OTTR) Announces Quarterly Earnings Results

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

Otter Tail Stock Down 1.8 %

Otter Tail stock opened at $92.17 on Tuesday. Otter Tail has a twelve month low of $68.96 and a twelve month high of $100.84. The company has a current ratio of 2.92, a quick ratio of 2.21 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $89.68 and a two-hundred day moving average of $88.26. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 12.66 and a beta of 0.55.

Insider Transactions at Otter Tail

In other news, VP Paul L. Knutson sold 4,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $90.66, for a total value of $362,640.00. Following the completion of the transaction, the vice president now owns 20,359 shares in the company, valued at approximately $1,845,746.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

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.