Otis Worldwide Corp [OTIS] stock prices are up 1.14% to $94.92 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The OTIS shares have gain 3.53% over the last week, with a monthly amount glided 6.27%, and seem to be holding up well over a long-time horizon.
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On 15, February 2024, Otis presents medium-term outlook driven by Service momentum at 2024 Investor Day; Expects to deliver >10% annualized EPS growth. In a post published today on Yahoo Finance, Highlights accelerating portfolio growth with Service sales growing mid-single digits or higher, while gaining share in New Equipment.
From an analyst’s perspective:
Otis Worldwide Corp [NYSE: OTIS] stock has seen the most recent analyst activity on February 22, 2024, when Argus upgraded its rating to a Buy but kept the price target unchanged to $102 for it. Previously, Vertical Research downgraded its rating to Hold on January 02, 2024. On October 03, 2023, UBS initiated with a Neutral rating and assigned a price target of $87 on the stock. Wells Fargo upgraded its rating to a Equal Weight and increased its price target to $88 on May 01, 2023. Morgan Stanley initiated its recommendation with a Equal-Weight and recommended $84 as its price target on January 06, 2023. Barclays downgraded its rating to Equal Weight for this stock on December 01, 2022, but kept the price target unchanged to $80. In a note dated November 07, 2022, Argus downgraded an Hold rating on this stock.
The stock price of Otis Worldwide Corp [OTIS] has been fluctuating between $73.32 and $94.29 over the past year. Currently, Wall Street analysts expect the stock to reach $86.57 within the next 12 months. Otis Worldwide Corp [NYSE: OTIS] shares were valued at $94.92 at the most recent close of the market. An investor can expect a potential drop of -8.8% based on the average OTIS price forecast.
Analyzing the OTIS fundamentals
The Otis Worldwide Corp [NYSE:OTIS] reported sales of 14.21B for trailing twelve months, representing a surge of 5.26%. Gross Profit Margin for this corporation currently stands at 0.3% with Operating Profit Margin at 0.15%, Pretax Profit Margin comes in at 0.14%, and Net Profit Margin reading is 0.1%. To continue investigating profitability, this company’s Return on Assets is posted at 0.14, Equity is -0.29 and Total Capital is 0.6. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-1.48.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 94.08 points at the first support level, and at 93.24 for the second support level. However, for the 1st resistance point, the stock is sitting at 95.42, and for the 2nd resistance point, it is at 95.92.
Otis Worldwide Corp [OTIS] reported earnings per share of $0.87 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.86/share, meaning a difference of $0.01 and a surprise factor of 1.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.95 per share as compared to estimates of $0.87 per share, a difference of $0.08 representing a surprise of 9.20%.
Ratios To Look Out For
It’s worth pointing out that Otis Worldwide Corp [NYSE:OTIS]’s Current Ratio is 0.99. As well, the Quick Ratio is 0.89, while the Cash Ratio is 0.2. Considering the valuation of this stock, the price to sales ratio is 2.71 and price to earnings (TTM) ratio is 27.99.
Transactions by insiders
Recent insider trading involved de Montlivault Stephane, President, Otis Asia Pacific, that happened on Feb 21 when 18393.0 shares were sold. EVP, General Counsel, LaFreniere Nora E. completed a deal on Feb 20 to sell 22106.0 shares. Meanwhile, SVP, CAO & Controller Ryan Michael Patrick sold 3522.0 shares on Feb 20.
