Otis Worldwide (NYSE:OTIS - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.02, Zacks reports. The business had revenue of $3.60 billion for 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 firm's quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 EPS. Otis Worldwide updated its FY 2025 guidance to 4.000-4.10 EPS.
Otis Worldwide Price Performance
Shares of OTIS traded up $0.45 during trading hours on Friday, hitting $89.65. The stock had a trading volume of 2,027,430 shares, compared to its average volume of 2,623,304. Otis Worldwide has a 12 month low of $86.00 and a 12 month high of $106.83. The firm has a market capitalization of $35.38 billion, a PE ratio of 23.75, a PEG ratio of 2.40 and a beta of 0.98. The stock has a fifty day moving average price of $97.14 and a 200 day moving average price of $97.26.
Otis Worldwide Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.87%. Otis Worldwide's payout ratio is currently 44.09%.
Wall Street Analysts Forecast Growth
OTIS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Otis Worldwide from $109.00 to $101.00 and set an "overweight" rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their target price on Otis Worldwide from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday. Wolfe Research upgraded Otis Worldwide from an "underperform" rating to a "peer perform" rating in a research report on Friday. Barclays reduced their price objective on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Otis Worldwide in a research report on Monday, July 14th. They set a "hold" rating and a $109.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $102.50.
Read Our Latest Analysis on OTIS
Institutional Trading of Otis Worldwide
Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in shares of Otis Worldwide by 3.4% during the first quarter. Jones Financial Companies Lllp now owns 9,199 shares of the company's stock worth $949,000 after purchasing an additional 304 shares in the last quarter. Empowered Funds LLC grew its position in shares of Otis Worldwide by 10.5% during the first quarter. Empowered Funds LLC now owns 8,988 shares of the company's stock worth $928,000 after purchasing an additional 857 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Otis Worldwide by 63.7% during the first quarter. Acadian Asset Management LLC now owns 4,045 shares of the company's stock valued at $417,000 after buying an additional 1,574 shares during the last quarter. Institutional investors own 88.03% of the company's stock.
Otis Worldwide Company Profile
(
Get Free Report)
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.
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