Wall Street brokers expect Otis Worldwide Co. (NYSE: OTIS – Get Rating) to report earnings per share (EPS) of $0.79 for the current quarter, Zacks reports. Two analysts have made earnings estimates for Otis Worldwide. The lowest EPS estimate is $0.78 and the highest is $0.82. Otis Worldwide also reported earnings of $0.79 per share in the same quarter last year. The company is due to announce its next results on Monday, January 1.
According to Zacks, analysts expect Otis Worldwide to report annual earnings of $3.25 per share for the current year, with EPS estimates ranging from $3.25 to $3.26. For next year, analysts expect the company to post earnings of $3.65 per share. Zacks Investment Research’s EPS averages are an average based on a survey of analysts who cover Otis Worldwide.
Otis Worldwide (NYSE: OTIS – Get Rating) last reported results on Monday, April 25. The company reported earnings per share (EPS) of $0.77 for the quarter, beating analyst consensus estimates of $0.74 by $0.03. The company posted revenue of $3.41 billion in the quarter, versus a consensus estimate of $3.45 billion. Otis Worldwide had a net margin of 8.73% and a negative return on equity of 35.81%. The company’s revenue increased 0.2% year-over-year. In the same quarter of the previous year, the company achieved EPS of $0.72.
A number of stock analysts have weighed in on the company. Cowen cut his price target on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a Tuesday, April 26 report. Cowen reduced his target price on Otis Worldwide from $91.00 to $85.00 and set an “outperform” rating for the company in a Tuesday, April 26 research note. Credit Suisse Group lowered its price target on Otis Worldwide from $88.00 to $81.00 and set a “neutral” rating on the stock in a Tuesday, April 26 research report. Finally, Barclays downgraded Otis Worldwide from an “equal weight” rating to an “overweight” rating and set a price target of $82.00 on the stock in a research report on Tuesday. Two investment analysts gave the stock a sell rating, two gave the company a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $82.56.
Institutional investors and hedge funds have recently changed their holdings in the company. CVA Family Office LLC increased its equity stake in Otis Worldwide by 483.3% during the fourth quarter. CVA Family Office LLC now owns 315 shares of the company valued at $27,000 after purchasing an additional 261 shares during the period. Intelligent Financial Strategies bought a new position in Otis Worldwide during the fourth quarter worth approximately $28,000. Curi Wealth Management LLC bought a new position in Otis Worldwide during the fourth quarter worth approximately $27,000. Elmwood Wealth Management Inc. bought a new position in Otis Worldwide during the fourth quarter worth approximately $28,000. Finally, NuWave Investment Management LLC bought a new position in Otis Worldwide during the first quarter worth approximately $26,000. 83.32% of the shares are currently held by institutional investors.
OTIS traded $1.63 on Tuesday, hitting $75.50. 73,875 shares of the company were traded, against an average volume of 2,759,624. The company has a market capitalization of $31.92 billion, a price-earnings ratio of 25.94 and a beta of 0.88. Otis Worldwide has a 12-month low of $71.07 and a 12-month high of $92.84. The company’s 50-day moving average is $75.31 and its 200-day moving average is $79.84.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 10. Shareholders of record on Friday, May 20 will receive a dividend of $0.29 per share. This represents a dividend of $1.16 on an annualized basis and a dividend yield of 1.54%. This is a positive change from Otis Worldwide’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, May 19. Otis Worldwide’s dividend payout ratio (DPR) is 39.86%.
About Otis Worldwide (Get an assessment)
Otis Worldwide Corporation manufactures, installs and services elevators and escalators in the United States, China and around the world. 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 walks for residential and commercial buildings and infrastructure projects.
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