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Weiss Ratings Reaffirms Hold (C+) Rating for Otis Worldwide (NYSE:OTIS)

Otis Worldwide logo with Industrials background

Key Points

  • Weiss Ratings has reaffirmed a "Hold (C+)" rating for Otis Worldwide (NYSE:OTIS), indicating a cautious outlook on the stock.
  • Price targets for Otis Worldwide have varied among analysts, with Wells Fargo increasing it to $95.00 and JPMorgan raising it to $105.00, while Zacks lowered their rating to "strong sell."
  • Otis Worldwide has a market cap of $35.58 billion and reported a quarterly revenue of $3.60 billion, slightly below analysts' expectations.
  • MarketBeat previews the top five stocks to own by November 1st.

Otis Worldwide (NYSE:OTIS - Get Free Report)'s stock had its "hold (c+)" rating reiterated by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Otis Worldwide from $93.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Otis Worldwide from $101.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Zacks Research lowered shares of Otis Worldwide from a "hold" rating to a "strong sell" rating in a research report on Monday, September 15th. Royal Bank Of Canada decreased their target price on shares of Otis Worldwide from $108.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Otis Worldwide in a report on Monday, July 14th. They set a "hold" rating and a $109.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Otis Worldwide currently has an average rating of "Hold" and an average target price of $103.88.

View Our Latest Report on OTIS

Otis Worldwide Stock Performance

OTIS stock opened at $90.66 on Wednesday. Otis Worldwide has a 1 year low of $84.25 and a 1 year high of $106.83. The firm has a market cap of $35.58 billion, a P/E ratio of 23.99, a PEG ratio of 3.54 and a beta of 1.00. The stock's 50 day moving average price is $88.34 and its 200 day moving average price is $93.92.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.02. Otis Worldwide had a negative return on equity of 30.95% and a net margin of 10.68%.The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the firm posted $1.06 EPS. The business's revenue for the quarter was down .2% on a year-over-year basis. Otis Worldwide has set its FY 2025 guidance at 4.000-4.10 EPS. On average, research analysts predict that Otis Worldwide will post 4.04 earnings per share for the current year.

Institutional Investors Weigh In On Otis Worldwide

Several hedge funds have recently made changes to their positions in OTIS. NBC Securities Inc. bought a new position in Otis Worldwide during the first quarter worth about $25,000. Wayfinding Financial LLC acquired a new stake in Otis Worldwide during the 1st quarter worth $31,000. Cheviot Value Management LLC acquired a new position in shares of Otis Worldwide in the 1st quarter valued at $31,000. Chilton Capital Management LLC acquired a new position in shares of Otis Worldwide in the 2nd quarter valued at $31,000. Finally, Nemes Rush Group LLC boosted its stake in Otis Worldwide by 75.4% in the 2nd quarter. Nemes Rush Group LLC now owns 314 shares of the company's stock worth $31,000 after purchasing an additional 135 shares during the period. 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.

See Also

Analyst Recommendations for Otis Worldwide (NYSE:OTIS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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