Otis Worldwide (NYSE:OTIS – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $3.220-$3.270 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.280. The company issued revenue guidance of $14.10 billion-$14.30 billion, compared to the consensus revenue estimate of $14.62 billion.
Shares of NYSE:OTIS opened at $73.42 on Monday. Otis Worldwide has a fifty-two week low of $70.74 and a fifty-two week high of $92.84. The business has a 50-day simple moving average of $76.29 and a two-hundred day simple moving average of $81.09. The firm has a market cap of $31.04 billion, a price-to-earnings ratio of 25.40 and a beta of 0.94.
Otis Worldwide (NYSE:OTIS – Get Rating) last released its quarterly earnings results on Monday, January 31st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.59 billion. Otis Worldwide had a negative return on equity of 39.58% and a net margin of 8.71%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. As a group, sell-side analysts anticipate that Otis Worldwide will post 3.28 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC grew its stake in shares of Otis Worldwide by 22.6% during the 4th quarter. Penserra Capital Management LLC now owns 1,914 shares of the company’s stock valued at $166,000 after acquiring an additional 353 shares during the period. KB Financial Partners LLC bought a new position in shares of Otis Worldwide during the 4th quarter valued at approximately $33,000. Integrated Wealth Concepts LLC grew its stake in shares of Otis Worldwide by 8.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 5,963 shares of the company’s stock valued at $519,000 after acquiring an additional 484 shares during the period. First Community Trust NA bought a new position in shares of Otis Worldwide during the 4th quarter valued at approximately $78,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of Otis Worldwide during the 4th quarter valued at approximately $89,000. Institutional investors and hedge funds own 81.27% of the company’s stock.
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 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.
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