Otter Tail (NASDAQ:OTTR) Issues Earnings Results

Otter Tail (NASDAQ:OTTR) announced its earnings results on Monday. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06, Zacks reports. The company had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. During the same quarter in the previous year, the company posted $2.19 EPS. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.

Otter Tail Price Performance

NASDAQ OTTR traded down $0.43 during trading hours on Tuesday, hitting $78.10. 119,433 shares of the company’s stock traded hands, compared to its average volume of 229,027. Otter Tail has a 52-week low of $73.43 and a 52-week high of $100.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. The company has a market capitalization of $3.27 billion, a PE ratio of 10.61 and a beta of 0.52. The firm’s 50-day moving average is $78.84 and its 200-day moving average is $85.71.

Insider Activity at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value of $354,960.00. Following the sale, the vice president now owns 12,300 shares of the company’s stock, valued at $1,091,502. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by 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.