Otis Worldwide Corporation (NYSE:OTIS) Declares Quarterly Dividend of $0.44

Key Points

• Otis Worldwide declared a quarterly dividend of $0.44 per share, with stockholders of record on August 14 set to be paid on September 11. The dividend implies an annualized yield of about 2.5%.
• The company has raised its dividend every year for the past five years and maintains a payout ratio of 39.2%, suggesting the dividend is well covered by earnings.
• In its latest quarterly results, Otis reported EPS of $1.01, matching estimates, while revenue of $3.86 billion topped forecasts and rose 7.3% year over year.

Otis Worldwide Corporation (NYSE:OTIS - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 14th will be paid a dividend of 0.44 per share on Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th.

Otis Worldwide has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Otis Worldwide has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Otis Worldwide to earn $4.58 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 38.4%.

Otis Worldwide Trading Up 0.7%

NYSE:OTIS opened at $70.87 on Friday. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.61 and a beta of 0.90. The firm's fifty day simple moving average is $71.94 and its 200 day simple moving average is $80.02. Otis Worldwide has a twelve month low of $69.16 and a twelve month high of $94.57.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Otis Worldwide had a negative return on equity of 28.50% and a net margin of 10.17%.The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the firm earned $1.05 EPS. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4.010-4.050 EPS. On average, analysts predict that Otis Worldwide will post 4.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on OTIS shares. Wolfe Research downgraded Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 8th. Evercore restated an "outperform" rating and issued a $95.00 price target on shares of Otis Worldwide in a report on Thursday. Wells Fargo & Company lowered their price objective on shares of Otis Worldwide from $92.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Weiss Ratings lowered shares of Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Finally, Sanford C. Bernstein reduced their target price on shares of Otis Worldwide from $97.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $95.45.

About Otis Worldwide

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis's business derives from long-term service contracts and responsive maintenance work.

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