Why Otis Worldwide Corporation [OTIS] Stock Will Fly to $83.00 Over the Next 12 Months

Otis Worldwide Corporation [OTIS] stock is down -0.50 while the S&P 500 has risen 0.88% on Friday, 12/04/20. While at the time of this article, OTIS ATR is sitting at 1.56. This stock’s volatility for the past week remained at 2.15%, while it was 2.35% for the past 30-day period. OTIS has fallen -$0.33 from the previous closing price of $65.49 on volume of 2.05 million shares.

On 9, November 2020, Otis Names Bernardo Calleja as President, Otis EMEA. According to news published on Yahoo Finance, Otis Worldwide Corporation (NYSE: OTIS) has named Bernardo Calleja as President, Otis Europe Middle East & Africa (EMEA). Calleja will report directly to Otis President & CEO Judy Marks. Otis is the world’s leading company for elevator and escalator manufacturing, installation and service.

Analyst Birdseye View:

The most recent analyst activity for Otis Worldwide Corporation [NYSE:OTIS] stock was on June 29, 2020, when it was Initiated with a Reduce rating from HSBC Securities, which also raised its 12-month price target on the stock to $44. On June 18, 2020, Argus Initiated a Buy rating and boosted its price target on this stock to $72. On May 22, 2020, Cowen Initiated an Outperform rating and increased its price target to $64. On May 14, 2020, Credit Suisse Initiated a Neutral rating and increased its price target to $55. On May 08, 2020, William Blair Initiated a Mkt perform rating. On April 15, 2020, Barclays Initiated an Equal weight rating and boosted its target amount on this stock to $52.

In the past 52 weeks of trading, this stock has oscillated between a low of $38.00 and a peak of $68.21. Right now, the middling Wall Street analyst 12-month amount mark is $71.00. At the most recent market close, shares of Otis Worldwide Corporation [NYSE:OTIS] were valued at $65.16. According to the average price forecast, investors can expect a potential return of 3.17%.

FUNDAMENTAL ANALYSIS

Otis Worldwide Corporation [NYSE:OTIS] most recently reported quarterly sales of 3.27 billion, which represented growth of -9.60%. This publicly-traded organization’s revenue is $190,116 per employee, while its income is $16,174 per employee. This company’s Gross Margin is currently 29.60%, its Pretax Margin is +14.19, and its Net Margin is +8.51. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 11.86, 68.28, 73.79 and 61.07 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 24.78 and the whole liability to whole assets at 5.78. It shows enduring liability to the whole principal at 17.08 and enduring liability to assets at 0.04 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 64.68 points at 1st support level, the second support level is making up to 64.20. But as of 1st resistance point, this stock is sitting at 65.84 and at 66.52 for 2nd resistance point.

Otis Worldwide Corporation [OTIS] reported its earnings at $0.69 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at $0.56/share signifying the difference of 0.13 and 23.20% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were $0.56 calling estimates for $0.44/share with the difference of 0.12 depicting the surprise of 27.30%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Otis Worldwide Corporation [NYSE:OTIS] is 1.10. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.27. Now if looking for a valuation of this stock’s showing 32.39 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by Marks Judith Fran, President and CEO, and it was the sale of 47.0 shares on Oct 30. Zheng Peiming, the President, Otis China, completed a sale of 54.0 shares on Aug 03. On May 11, KEARNEY CHRISTOPHER J, Executive Chairman, completed a purchase of 1926.0 shares.