Otter Tail (NASDAQ:OTTR - Get Free Report) issued its quarterly earnings data on Monday. The utilities provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.06, Zacks reports. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The firm had revenue of $338.03 million for the quarter, compared to analysts' expectations of $362.20 million. During the same period in the prior year, the company earned $2.19 EPS. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.
Otter Tail Price Performance
Otter Tail stock traded up $2.99 during midday trading on Tuesday, reaching $81.52. 453,469 shares of the company were exchanged, compared to its average volume of 230,588. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.61 and a beta of 0.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27. The firm's 50-day simple moving average is $78.84 and its 200-day simple moving average is $85.71. Otter Tail has a 1 year low of $73.43 and a 1 year high of $100.84.
Insiders Place Their Bets
In other news, VP Jennifer O. Smestad sold 4,000 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the sale, the vice president now owns 12,300 shares in the company, valued at $1,091,502. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.
Otter Tail Company Profile
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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.
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