Otter Tail (NASDAQ:OTTR) Releases FY24 Earnings Guidance

Otter Tail (NASDAQ:OTTR - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.97-7.17 for the period, compared to the consensus EPS estimate of $7.10.

Otter Tail Price Performance

NASDAQ:OTTR traded up $3.02 during midday trading on Tuesday, hitting $81.55. The company had a trading volume of 548,192 shares, compared to its average volume of 231,031. The stock's fifty day moving average price is $78.84 and its 200-day moving average price is $85.71. The company has a market capitalization of $3.41 billion, a PE ratio of 10.61 and a beta of 0.52. Otter Tail has a 52-week low of $73.43 and a 52-week 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.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating 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 company had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same quarter last year, the firm earned $2.19 EPS. As a group, research analysts expect that Otter Tail will post 7.01 earnings per share for the current year.

Insiders Place Their Bets

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.