Otis Worldwide Corp [OTIS] stock is trading at $96.13, up 1.70%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The OTIS shares have gain 4.75% over the last week, with a monthly amount drifted -1.20%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Previously, Argus upgraded its rating to Buy on February 22, 2024, and kept the price target unchanged to $102. On January 02, 2024, downgrade downgraded it’s rating to Hold. UBS started tracking the stock assigning a Neutral rating and suggested a price target of $87 on October 03, 2023. Wells Fargo upgraded its rating to a Equal Weight and raised its price target to $88 on May 01, 2023. Morgan Stanley started tracking with a Equal-Weight rating for this stock on January 06, 2023, and assigned it a price target of $84. In a note dated December 01, 2022, Barclays downgraded an Equal Weight rating on this stock but restated the target price of $80.
Otis Worldwide Corp [OTIS] stock has fluctuated between $73.32 and $100.35 over the past year. Currently, Wall Street analysts expect the stock to reach $92.89 within the next 12 months. Otis Worldwide Corp [NYSE: OTIS] shares were valued at $96.13 at the most recent close of the market. An investor can expect a potential drop of -3.37% based on the average OTIS price forecast.
Analyzing the OTIS fundamentals
Otis Worldwide Corp [NYSE:OTIS] reported sales of 14.30B for the trailing twelve months, which represents a growth of 2.72%. Gross Profit Margin for this corporation currently stands at 0.3% with Operating Profit Margin at 0.16%, 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 0.15, Equity is -0.29 and Total Capital is 0.64. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -1.37.
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 95.06 points at the first support level, and at 93.99 for the second support level. However, for the 1st resistance point, the stock is sitting at 96.69, and for the 2nd resistance point, it is at 97.25.
Otis Worldwide Corp [OTIS] reported earnings per share of $0.88 for its fiscal quarter that ended on 3/31/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.87/share, meaning a difference of $0.01 and a surprise factor of 1.10%. By comparison, the stated earnings for the previous quarter ended on 12/31/2023 were $0.87 per share as compared to estimates of $0.86 per share, a difference of $0.01 representing a surprise of 1.20%.
Ratios To Look Out For
For context, Otis Worldwide Corp’s Current Ratio is 0.97. Further, the Quick Ratio stands at 0.88, while the Cash Ratio is 0.14. Considering the valuation of this stock, the price to sales ratio is 2.72 and price to earnings (TTM) ratio is 27.75.
Transactions by insiders
Recent insider trading involved Zheng Peiming, EVP, Chief Product, Delivery, that happened on May 07 ’24 when 30364.0 shares were sold. President, Otis Asia Pacific, de Montlivault Stephane completed a deal on Feb 21 ’24 to sell 18393.0 shares. Meanwhile, EVP, General Counsel LaFreniere Nora E. sold 22106.0 shares on Feb 20 ’24.
