Otter Tail (NASDAQ:OTTR) Issues 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 Stock Performance

Shares of OTTR stock traded down $0.18 during mid-day trading on Tuesday, reaching $90.48. The stock had a trading volume of 347,290 shares, compared to its average volume of 246,306. The firm has a market cap of $3.77 billion, a PE ratio of 13.83 and a beta of 0.56. The company has a quick ratio of 1.36, a current ratio of 1.84 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. The firm’s 50 day simple moving average is $84.73 and its 200 day simple moving average is $83.40.

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

Otter Tail Announces Dividend

The company also recently declared 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 2.07%. The ex-dividend date of this dividend is Tuesday, May 14th. Otter Tail’s dividend payout ratio (DPR) is 26.71%.

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.