Otis Worldwide Co. (NYSE:OTIS) Receives Average Rating of “Hold” from Brokerages

Shares of Otis Worldwide Co. (NYSE:OTISGet Rating) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $82.31.

Several research firms have recently issued reports on OTIS. Barclays reduced their target price on shares of Otis Worldwide from $88.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 26th. Credit Suisse Group reduced their target price on shares of Otis Worldwide from $88.00 to $81.00 and set a “neutral” rating for the company in a research note on Tuesday, April 26th. Cowen reduced their target price on shares of Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Tuesday, April 26th. Finally, Cowen reduced their target price on shares of Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Tuesday, April 26th.

Shares of OTIS stock opened at $73.44 on Friday. The firm has a market capitalization of $31.05 billion, a PE ratio of 25.24 and a beta of 0.88. The firm has a fifty day simple moving average of $75.31 and a two-hundred day simple moving average of $79.92. Otis Worldwide has a 12 month low of $71.07 and a 12 month high of $92.84.

Otis Worldwide (NYSE:OTISGet Rating) last announced its quarterly earnings results on Monday, April 25th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.45 billion. Otis Worldwide had a net margin of 8.73% and a negative return on equity of 35.81%. Otis Worldwide’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 EPS. Research analysts anticipate that Otis Worldwide will post 3.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 20th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, May 19th. This represents a $1.16 annualized dividend and a yield of 1.58%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.24. Otis Worldwide’s dividend payout ratio is presently 39.86%.

A number of institutional investors and hedge funds have recently bought and sold shares of OTIS. Cetera Advisor Networks LLC lifted 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 valued at $1,422,000 after purchasing an additional 2,398 shares during the last quarter. Laird Norton Trust Company LLC purchased a new stake in Otis Worldwide during the fourth quarter valued at about $245,000. Two Sigma Advisers LP lifted its holdings in Otis Worldwide by 120.4% during the third quarter. Two Sigma Advisers LP now owns 596,700 shares of the company’s stock valued at $49,096,000 after purchasing an additional 326,000 shares during the last quarter. Strong Tower Advisory Services lifted its holdings in Otis Worldwide by 6.4% during the fourth quarter. Strong Tower Advisory Services now owns 9,929 shares of the company’s stock valued at $865,000 after purchasing an additional 600 shares during the last quarter. Finally, Toroso Investments LLC lifted its holdings in Otis Worldwide by 49.2% during the third quarter. Toroso Investments LLC now owns 12,960 shares of the company’s stock valued at $1,067,000 after purchasing an additional 4,272 shares during the last quarter. Institutional investors own 83.32% 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.

Further Reading

Analyst Recommendations for Otis Worldwide (NYSE:OTIS)

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