Otter Tail (NASDAQ:OTTR) Updates FY24 Earnings Guidance

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

Otter Tail Trading Up 2.7 %

NASDAQ:OTTR traded up $2.43 during trading hours on Wednesday, hitting $92.73. The stock had a trading volume of 185,824 shares, compared to its average volume of 247,142. Otter Tail has a one year low of $68.96 and a one year high of $99.49. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 13.25 and a beta of 0.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.36 and a current ratio of 1.84. The business’s 50 day moving average is $84.86 and its 200-day moving average is $83.60.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. The business had revenue of $314.31 million for the quarter, compared to analyst estimates of $300.60 million. Otter Tail had a net margin of 21.81% and a return on equity of 21.64%. During the same period last year, the business posted $1.00 earnings per share. Sell-side analysts anticipate that Otter Tail will post 5.28 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.468 dividend. This represents a $1.87 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, May 14th. Otter Tail’s payout ratio is presently 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.