Otis Worldwide Co. (NYSE:OTIS) Expected to Post Quarterly Sales of $3.43 Billion

Equities analysts expect Otis Worldwide Co. (NYSE:OTISGet Rating) to post $3.43 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Otis Worldwide’s earnings. Otis Worldwide reported sales of $3.41 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The firm is scheduled to announce its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Otis Worldwide will report full year sales of $14.53 billion for the current year, with estimates ranging from $14.51 billion to $14.54 billion. For the next financial year, analysts expect that the firm will post sales of $14.98 billion, with estimates ranging from $14.92 billion to $15.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Otis Worldwide.

Otis Worldwide (NYSE:OTISGet Rating) last posted its quarterly earnings data on Monday, January 31st. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Otis Worldwide had a net margin of 8.71% and a negative return on equity of 39.58%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $0.66 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year.

NYSE OTIS opened at $75.84 on Thursday. The company has a 50-day moving average of $77.29 and a 200-day moving average of $81.54. The company has a market cap of $32.23 billion, a P/E ratio of 26.24 and a beta of 0.94. Otis Worldwide has a 12 month low of $69.83 and a 12 month high of $92.84.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Friday, February 18th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Thursday, February 17th. Otis Worldwide’s dividend payout ratio (DPR) is presently 33.22%.

A number of large investors have recently modified their holdings of the business. Cetera Advisor Networks LLC grew its holdings in Otis Worldwide by 16.1% during the third quarter. Cetera Advisor Networks LLC now owns 17,282 shares of the company’s stock worth $1,422,000 after acquiring an additional 2,398 shares during the period. Two Sigma Advisers LP grew its position in Otis Worldwide by 120.4% in the third quarter. Two Sigma Advisers LP now owns 596,700 shares of the company’s stock worth $49,096,000 after acquiring an additional 326,000 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG grew its position in Otis Worldwide by 16.2% in the third quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 199,348 shares of the company’s stock worth $16,402,000 after acquiring an additional 27,850 shares in the last quarter. Strong Tower Advisory Services lifted its stake in shares of Otis Worldwide by 6.4% in the fourth quarter. Strong Tower Advisory Services now owns 9,929 shares of the company’s stock worth $865,000 after buying an additional 600 shares during the last quarter. Finally, Toroso Investments LLC lifted its stake in shares of Otis Worldwide by 49.2% in the third quarter. Toroso Investments LLC now owns 12,960 shares of the company’s stock worth $1,067,000 after buying an additional 4,272 shares during the last quarter. 81.27% of the stock is owned by institutional investors.

Otis Worldwide Company Profile (Get Rating)

Otis Worldwide Corporation manufactures, installs, and services elevators and escalators in the United States, China, and internationally. The company operates through 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.

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