Otter Tail (NASDAQ:OTTR) Issues FY24 Earnings Guidance

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

Otter Tail Stock Performance

NASDAQ:OTTR traded up $5.13 during trading hours on Tuesday, hitting $95.79. 81,149 shares of the company traded hands, compared to its average volume of 243,227. The company has a current ratio of 1.84, a quick ratio of 1.36 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $84.73 and a 200 day moving average of $83.40. Otter Tail has a twelve month low of $68.96 and a twelve month high of $99.49. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 13.83 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR) last posted 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 firm had revenue of $314.31 million during 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 quarter last year, the company posted $1.00 EPS. On average, analysts forecast that Otter Tail will post 5.28 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend 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.