NYSE:OTIS

Otis Worldwide (OTIS) Stock Forecast, Price & News

$85.60

+4.09 (+5.02%)

(As of 06/2/2023 08:48 PM ET)

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Today's Range: $83.14
▼
$85.95
50-Day Range: $78.49
▼
$86.26
52-Week Range: $62.49
▼
$87.33

Volume: 3.16 million shs
Average Volume: 1.86 million shs
Market Capitalization: $35.38 billion

P/E Ratio: 28.25
Dividend Yield: 1.59%
Price Target: $81.10

Otis Worldwide MarketRank™ Forecast

Analyst Rating: Hold
2.18 Rating Score
Upside/Downside: 5.3% Downside
$81.10 Price Target
Short Interest: Healthy
0.99% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -1.67
Upright™ Environmental Score
News Sentiment: 0.66
Based on 10 Articles This Week
Insider Trading: Selling Shares
$61,056 Sold Last Quarter
Proj. Earnings Growth: 8.99%
From $3.45 to $3.76 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.27 out of 5 stars

Construction Sector

38th out of 105 stocks

Electronic, Electrical Equipment & Components, Except Computer Equipment Industry

3rd out of 3 stocks

1.1

Analyst's Opinion

Consensus Rating
Otis Worldwide has received a consensus rating of Hold. The company's average rating score is 2.18, and is based on 2 buy ratings, 9 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $81.10, Otis Worldwide has a forecasted downside of 5.3% from its current price of $85.60.
Amount of Analyst Coverage
Otis Worldwide has only been the subject of 4 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
0.99% of the float of Otis Worldwide has been sold short.
Short Interest Ratio / Days to Cover
Otis Worldwide has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Otis Worldwide has recently decreased by 11.88%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Yield
Otis Worldwide pays a meaningful dividend of 1.67%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Otis Worldwide has only been increasing its dividend for 3 years.
Dividend Coverage
The dividend payout ratio of Otis Worldwide is 44.88%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Otis Worldwide will have a dividend payout ratio of 36.17% next year. This indicates that Otis Worldwide will be able to sustain or increase its dividend.

2.5

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Otis Worldwide has received a 13.45% net impact score from Upright. Otis Worldwide seems to create the most significant positive value in categories "Taxes", "Societal infrastructure", and "Jobs". The positive contribution in the "Societal infrastructure" impact category is mostly driven by its "Elevators", "Escalators", and "Modernisation of elevators" products. See details.
Environmental Sustainability
The Environmental Impact score for Otis Worldwide is -1.67.

3.1

News and Social Media Coverage

News Sentiment
Otis Worldwide has a news sentiment score of 0.66. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Construction companies.
News Coverage This Week
MarketBeat has tracked 10 news articles for Otis Worldwide this week, compared to 8 articles on an average week.
Search Interest
14 people have searched for OTIS on MarketBeat in the last 30 days. This is an increase of 40% compared to the previous 30 days.
MarketBeat Follows
2 people have added Otis Worldwide to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Otis Worldwide insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $61,056.00 in company stock.
Percentage Held by Insiders
Only 0.11% of the stock of Otis Worldwide is held by insiders.
Percentage Held by Institutions
83.95% of the stock of Otis Worldwide is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Otis Worldwide are expected to grow by 8.99% in the coming year, from $3.45 to $3.76 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Otis Worldwide is 28.25, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 132.69.
Price to Earnings Ratio vs. Sector
The P/E ratio of Otis Worldwide is 28.25, which means that it is trading at a more expensive P/E ratio than the Construction sector average P/E ratio of about 13.47.

See Top Rated MarketRank™ Stocks Here

About Otis Worldwide (NYSE:OTIS) Stock

Otis Worldwide Corporation manufactures, installs, and services 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. The Service segment performs maintenance and repair services, as well as modernization services to upgrade elevators and escalators. It had a network of approximately 34,000 service mechanics operating approximately 1,400 branches and offices. The company was founded in 1853 and is headquartered in Farmington, Connecticut.

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OTIS Stock News Headlines

June 1, 2023 | finance.yahoo.com

It's Electric: Ride Along in an Otis EV

May 31, 2023 | finanznachrichten.de

Otis Worldwide: Otis Awards Scholarships to 60 Female STEM Students

June 5, 2023 | Legacy Research (Affiliate) (Ad)

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May 30, 2023 | yahoo.com

Jamie Otis shares 'confidence booster' in body-positive post

May 30, 2023 | finance.yahoo.com

Otis Awards Scholarships to 60 Female STEM Students

May 29, 2023 | msn.com

Local World War II veterans return to Normandy

May 26, 2023 | yahoo.com

Otis Taylor gets diploma 57 years after he was kicked out for his hair

May 26, 2023 | msn.com

Otis Taylor wasn't allowed to graduate high school because of his hair. He finally got his diploma 57 years later.

June 5, 2023 | Legacy Research (Affiliate) (Ad)

The “Amazon Secret Royalty Program” Can Help Anyone Retire Like Royalty

May 26, 2023 | finance.yahoo.com

Otis Worldwide (OTIS) Down 5.2% Since Last Earnings Report: Can It Rebound?

May 25, 2023 | finanznachrichten.de

Otis Worldwide: Otis Recognized as One of 'America's Climate Leaders': USA Today

May 25, 2023 | finance.yahoo.com

Otis Recognized as One of 'America’s Climate Leaders': USA Today

May 24, 2023 | msn.com

Chad Gable softens his stance on Maxxine Dupri and Otis’ relationship on RAW

May 23, 2023 | news.yahoo.com

Jason Sudeikis and Son Otis, 9, Share Sweet Father-Son Outing at Lakers Game: Photo

May 23, 2023 | americanbankingnews.com

Critical Analysis: Otis Worldwide (NYSE:OTIS) versus Interactive Strength (NASDAQ:TRNR)

May 22, 2023 | uk.news.yahoo.com

Germany's Bosch sells some Russian assets to holding company S8 Capital

May 19, 2023 | news.yahoo.com

Blues Singer Otis Taylor Receives HS Diploma After Being Expelled Due To Hair Discrimination In 1966

May 18, 2023 | msn.com

Rod Stewart, 78, Is A ‘Happy Grandad’ Meeting His Newborn Grandchildren In 1st Photos

May 17, 2023 | msn.com

Sir Rod Stewart cuddles newborn grandsons for the first time

May 15, 2023 | msn.com

Sir Rod Stewart's daughter Ruby gives birth to son

May 14, 2023 | msn.com

Ruby Stewart and Fiancé Jake Kalic Welcome Baby Boy: 'Unlike Any Other Love'

May 13, 2023 | msn.com

Maxxine Dupri Says Her Focus Is Getting Otis A WWE Title Around His Waist

May 12, 2023 | finance.yahoo.com

Calculating The Intrinsic Value Of Otis Worldwide Corporation (NYSE:OTIS)

May 11, 2023 | americanbankingnews.com

Q2 2023 EPS Estimates for Otis Worldwide Co. (NYSE:OTIS) Reduced by Zacks Research

May 11, 2023 | americanbankingnews.com

Otis Worldwide Co. (NYSE:OTIS) Receives $81.10 Average Price Target from Brokerages

May 10, 2023 | marketwatch.com

Otis Worldwide Corp. stock remains steady Wednesday, underperforms market

May 4, 2023 | finance.yahoo.com

5 Stocks to Buy on Dividend Hikes as Recession Fears Grow

See More Headlines

OTIS Price History

30 days | 90 days | 365 days | Advanced Chart

OTIS Company Calendar

Ex-Dividend for 3/10 Dividend: 2/16/2023
Dividend Payable: 3/10/2023
Last Earnings: 4/26/2023
Ex-Dividend for 6/9 Dividend: 5/18/2023
Today: 6/04/2023
Dividend Payable: 6/09/2023
Next Earnings (Estimated): 7/26/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Electronic, electrical equipment & components, except computer equipment
Sub-Industry: N/A
Sector: Construction
Current Symbol: NYSE:OTIS
CUSIP: N/A
CIK: 1781335
Web: www.otis.com
Phone: 860-674-3000
Fax: N/A
Employees: 69,000
Year Founded: 1853

Price Target and Rating

Average Stock Price Forecast: $81.10
High Stock Price Forecast: $95.00
Low Stock Price Forecast: $62.00
Forecasted Upside/Downside: -5.3%
Consensus Rating: Hold
Rating Score (0-4): 2.18
Research Coverage: 11 Analysts

Profitability

EPS (Most Recent Fiscal Year): $3.03
Trailing P/E Ratio: 28.25
Forward P/E Ratio: 24.81
P/E Growth: N/A
Net Income: $1.25 billion
Net Margins: 9.35%
Pretax Margin: 13.80%
Return on Equity: -28.04%
Return on Assets: 13.92%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 0.90
Quick Ratio: 0.81

Sales & Book Value

Annual Sales: $13.62 billion
Price / Sales: 2.60
Cash Flow: $3.70 per share
Price / Cash Flow: 23.15
Book Value: ($11.53) per share
Price / Book: -7.42

Miscellaneous

Outstanding Shares: 413,291,000
Free Float: 412,836,000
Market Cap: $35.38 billion
Optionable: Optionable
Beta: 0.93

Social Links

Key Executives

Ms. Judith F. Marks (Age 58)
Chair, Pres & CEO
Comp: $5.22M

Ms. Nora E. LaFreniere (Age 51)
Exec. VP & Chief Gen. Counsel
Comp: $1.61M

Mr. Peiming Zheng (Age 54)
Pres of China & Chief Customer Product Officer
Comp: $3.74M

Mr. Stephane de Montlivault (Age 62)
Pres of Otis Asia Pacific
Comp: $1.68M

Mr. Anurag Maheshwari
Exec. VP & CFO

Mr. Todd Glance
Exec. VP of Operations

Mr. Michael Patrick Ryan (Age 52)
VP & Chief Accounting Officer

Rina Leonard
VP & Global Chief Information Officer

Ms. Randi Tanguay
VP & Chief Communications Officer

Ms. Robin Fiala
VP of Sales & Marketing

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

OTIS Stock - Frequently Asked Questions

Should I buy or sell Otis Worldwide stock right now?: 11 Wall Street 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 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.
View OTIS analyst ratings or view top-rated stocks.
What is Otis Worldwide's stock price forecast for 2023?: 11 equities research analysts have issued 1 year price targets for Otis Worldwide's shares. Their OTIS share price forecasts range from $62.00 to $95.00. On average, they predict the company's share price to reach $81.10 in the next year. This suggests that the stock has a possible downside of 5.3%.
View analysts price targets for OTIS or view top-rated stocks among Wall Street analysts.
How have OTIS shares performed in 2023?: Otis Worldwide's stock was trading at $78.31 on January 1st, 2023. Since then, OTIS stock has increased by 9.3% and is now trading at $85.60.
View the best growth stocks for 2023 here.
When is Otis Worldwide's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 26th 2023.
View our OTIS earnings forecast.
How were Otis Worldwide's earnings last quarter?: Otis Worldwide Co. (NYSE:OTIS) announced its quarterly earnings data on Wednesday, April, 26th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. Otis Worldwide had a net margin of 9.35% and a negative trailing twelve-month return on equity of 28.04%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share.
Read the conference call transcript.
How often does Otis Worldwide pay dividends? What is the dividend yield for Otis Worldwide?: Otis Worldwide declared a quarterly dividend on Tuesday, April 25th. Investors of record on Friday, May 19th will be given a dividend of $0.34 per share on Friday, June 9th. This represents a $1.36 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, May 18th. This is a boost from the stock's previous quarterly dividend of $0.29.
Read our dividend analysis for OTIS.
What ETFs hold Otis Worldwide's stock?: 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), Natixis Vaughan Nelson Mid Cap ETF (VNMC) and iShares Factors US Value Style ETF (STLV).
Is Otis Worldwide a good dividend stock?: Otis Worldwide (NYSE:OTIS) pays an annual dividend of $1.36 per share and currently has a dividend yield of 1.67%. 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.

What guidance has Otis Worldwide issued on next quarter's earnings?: Otis Worldwide issued an update on its FY23 earnings guidance on Wednesday, April, 26th. The company provided earnings per share (EPS) 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.
What is Otis Worldwide's stock symbol?: Otis Worldwide trades on the New York Stock Exchange (NYSE) under the ticker symbol "OTIS."
Who are Otis Worldwide's major shareholders?: Otis Worldwide's stock is owned by a number of institutional and retail 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.
View institutional ownership trends.
How do I buy shares of Otis Worldwide?: 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.
Compare Top Brokerages Here.
What is Otis Worldwide's stock price today?: One share of OTIS stock can currently be purchased for approximately $85.60.
How much money does Otis Worldwide make?: Otis Worldwide (NYSE:OTIS) has a market capitalization of $35.38 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.
How many employees does Otis Worldwide have?: The company employs 69,000 workers across the globe.
How can I contact Otis Worldwide?: 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.

This page (NYSE:OTIS) was last updated on 6/5/2023 by MarketBeat.com Staff

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