Otis Worldwide (NYSE:OTIS) Issues FY 2025 Earnings Guidance

Otis Worldwide (NYSE:OTIS - Get Free Report) updated its FY 2025 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 4.000-4.10 for the period, compared to the consensus estimate of 4.013. The company issued revenue guidance of $14.5 billion-$14.6 billion, compared to the consensus revenue estimate of $14.6 billion.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Otis Worldwide in a research note on Monday, July 14th. They issued a "hold" rating and a $109.00 target price on the stock. Barclays cut their target price on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research note on Thursday. Royal Bank Of Canada decreased their price target on Otis Worldwide from $109.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Wolfe Research raised Otis Worldwide from an "underperform" rating to a "peer perform" rating in a report on Friday. Finally, Morgan Stanley raised their price target on Otis Worldwide from $97.00 to $105.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $102.50.

Otis Worldwide Price Performance

OTIS stock traded up $0.57 during trading on Friday, hitting $89.77. 4,084,243 shares of the company traded hands, compared to its average volume of 2,638,743. The stock's 50-day simple moving average is $97.14 and its 200 day simple moving average is $97.26. The company has a market cap of $35.43 billion, a PE ratio of 23.75, a P/E/G ratio of 2.40 and a beta of 0.98. Otis Worldwide has a 1 year low of $86.00 and a 1 year high of $106.83.

Otis Worldwide (NYSE:OTIS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.73 billion. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%. The business's revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 earnings per share. Research analysts expect that Otis Worldwide will post 4.04 earnings per share for the current year.

Otis Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, August 15th. Otis Worldwide's dividend payout ratio (DPR) is presently 44.09%.

Institutional Trading of Otis Worldwide

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its stake in shares of Otis Worldwide by 63.7% in the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock worth $417,000 after acquiring an additional 1,574 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Otis Worldwide by 10.5% in the 1st quarter. Empowered Funds LLC now owns 8,988 shares of the company's stock valued at $928,000 after purchasing an additional 857 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Otis Worldwide by 3.4% in the 1st quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company's stock valued at $949,000 after purchasing an additional 304 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

About Otis Worldwide

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.