Otter Tail (NASDAQ:OTTR) Issues FY24 Earnings Guidance

Otter Tail (NASDAQ:OTTR) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $6.77-7.07 for the period, compared to the consensus earnings per share estimate of $6.37.

Otter Tail Trading Down 1.8 %

OTTR traded down $1.71 during midday trading on Monday, hitting $92.17. The company’s stock had a trading volume of 317,084 shares, compared to its average volume of 226,327. 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 firm has a market cap of $3.85 billion, a P/E ratio of 12.66 and a beta of 0.55. Otter Tail has a 52-week low of $68.96 and a 52-week high of $100.84. The firm has a 50-day moving average price of $89.68 and a two-hundred day moving average price of $88.26.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, May 6th. The utilities provider reported $1.77 earnings per share for the quarter. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The business had revenue of $347.07 million for the quarter. On average, research analysts anticipate that Otter Tail will post 6.35 earnings per share for the current year.

Insider Activity at Otter Tail

In other Otter Tail news, VP Paul L. Knutson sold 4,000 shares of the business’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 transaction of $362,640.00. Following the completion of the sale, the vice president now directly owns 20,359 shares in the company, valued at $1,845,746.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently 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.