Otter Tail (NASDAQ:OTTR) Issues FY24 Earnings Guidance

Otter Tail (NASDAQ:OTTR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.97-7.17 for the period, compared to the consensus earnings per share estimate of $7.10.

Otter Tail Stock Performance

Shares of Otter Tail stock traded up $3.19 during midday trading on Tuesday, hitting $81.72. The company had a trading volume of 390,981 shares, compared to its average volume of 230,296. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 10.61 and a beta of 0.52. Otter Tail has a 12-month low of $73.43 and a 12-month 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 company has a fifty day simple moving average of $78.84 and a 200 day simple moving average of $85.71.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The business had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same period in the previous year, the firm posted $2.19 earnings per share. As a group, analysts predict that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction dated 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 owns 12,300 shares of the company’s stock, valued at $1,091,502. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.