Otis Worldwide (OTIS) Stock Forecast, Price & News

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Otis Worldwide in the last year. There are currently 9 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" OTIS shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in OTIS, but not buy additional shares or sell existing shares.
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11 brokerages have issued 1 year target prices for Otis Worldwide's stock. Their OTIS share price forecasts range from $62.00 to $95.00. On average, they expect the company's share price to reach $81.10 in the next twelve months. This suggests that the stock has a possible downside of 5.3%.
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Otis Worldwide's stock was trading at $78.31 at the beginning of the year. Since then, OTIS shares have increased by 9.4% and is now trading at $85.66.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 26th 2023.
View our OTIS earnings forecast.

Otis Worldwide Co. (NYSE:OTIS) posted its quarterly earnings results on Wednesday, April, 26th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. The firm earned $3.35 billion during the quarter, compared to analysts' expectations of $3.26 billion. Otis Worldwide had a negative trailing twelve-month return on equity of 28.04% and a net margin of 9.35%. Otis Worldwide's revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS.
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Otis Worldwide declared a quarterly dividend on Tuesday, April 25th. Stockholders of record on Friday, May 19th will be paid a dividend of $0.34 per share on Friday, June 9th. This represents a $1.36 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, May 18th. This is a boost from the stock's previous quarterly dividend of $0.29.
Read our dividend analysis for OTIS.

ETFs with the largest weight of Otis Worldwide (NYSE:OTIS) stock in their portfolio include Invesco S&P Spin-Off ETF (CSD), AdvisorShares Focused Equity ETF (CWS), BTD Capital Fund (DIP), SmartETFs Dividend Builder ETF (DIVS), First Trust US Equity Opportunities ETF (FPX), ClearBridge Focus Value ESG ETF (CFCV), First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) and Natixis Vaughan Nelson Mid Cap ETF (VNMC).

Otis Worldwide (NYSE:OTIS) pays an annual dividend of $1.36 per share and currently has a dividend yield of 1.59%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 44.88%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, OTIS will have a dividend payout ratio of 36.17% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for OTIS.

Otis Worldwide updated its FY23 earnings guidance on Wednesday, April, 26th. The company provided earnings per share guidance of $3.40-$3.50 for the period, compared to the consensus earnings per share estimate of $3.44. The company issued revenue guidance of $13.9-$14.2 billion, compared to the consensus revenue estimate of $14.08 billion.

Otis Worldwide trades on the New York Stock Exchange (NYSE) under the ticker symbol "OTIS."

Otis Worldwide's stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.56%), State Street Corp (3.82%), Geode Capital Management LLC (2.38%), Fiera Capital Corp (2.22%), Dodge & Cox (1.26%) and Boston Partners (1.14%). Insiders that own company stock include Fernandez Bernardo Calleja, James F Cramer, Judith Fran Marks, Michael Patrick Ryan, Montlivault Stephane De, Nora E Lafreniere, Peiming Zheng and Rahul Ghai.
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Shares of OTIS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of OTIS stock can currently be purchased for approximately $85.66.

Otis Worldwide (NYSE:OTIS) has a market capitalization of $35.40 billion and generates $13.62 billion in revenue each year. The company earns $1.25 billion in net income (profit) each year or $3.03 on an earnings per share basis.

The company employs 69,000 workers across the globe.

Otis Worldwide's mailing address is ONE CARRIER PLACE, FARMINGTON CT, 06032. The official website for the company is www.otis.com. The company can be reached via phone at 860-674-3000 or via email at investorrelations@otis.com.