Otter Tail (NASDAQ:OTTR) Releases FY24 Earnings Guidance

Otter Tail (NASDAQ:OTTR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.23-6.53 for the period, compared to the consensus estimate of $5.30.

Otter Tail Stock Down 0.9 %

Shares of NASDAQ OTTR traded down $0.84 during mid-day trading on Thursday, hitting $91.89. The company had a trading volume of 81,331 shares, compared to its average volume of 245,252. The company has a market capitalization of $3.83 billion, a PE ratio of 13.12 and a beta of 0.56. The firm has a 50-day simple moving average of $84.86 and a two-hundred day simple moving average of $83.60. The company has a current ratio of 1.84, a quick ratio of 1.36 and a debt-to-equity ratio of 0.57. Otter Tail has a one year low of $68.96 and a one year high of $99.49.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.03. The company had revenue of $314.31 million during the quarter, compared to analysts’ expectations of $300.60 million. Otter Tail had a return on equity of 21.64% and a net margin of 21.81%. During the same quarter last year, the company earned $1.00 EPS. On average, equities analysts expect that Otter Tail will post 5.28 EPS for the current year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Tuesday, May 14th. Otter Tail’s payout ratio is currently 26.71%.

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.