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 (EPS) guidance of $6.23-6.53 for the period, compared to the consensus estimate of $5.30.

Otter Tail Price Performance

OTTR stock traded down $0.18 during mid-day trading on Tuesday, reaching $90.48. 347,290 shares of the company traded hands, compared to its average volume of 246,306. Otter Tail has a 52-week low of $68.96 and a 52-week high of $99.49. The company has a market capitalization of $3.77 billion, a P/E ratio of 13.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 1.36. The company has a fifty day moving average price of $84.73 and a 200-day moving average price of $83.40.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. The business had revenue of $314.31 million for the quarter, compared to analysts’ expectations 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 earned $1.00 earnings per share. As a group, analysts anticipate that Otter Tail will post 5.28 earnings per share for the current year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, May 14th. Otter Tail’s dividend payout ratio (DPR) is presently 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.