Otis Worldwide (NYSE:OTIS) Announces Earnings Results

Otis Worldwide (NYSE:OTIS) posted its quarterly earnings data on Wednesday. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.02), Zacks reports. Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. Otis Worldwide updated its FY 2025 guidance to 4.000-4.100 EPS.

Otis Worldwide Trading Down 1.9 %

Shares of NYSE OTIS opened at $95.87 on Wednesday. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 23.91 and a beta of 1.06. Otis Worldwide has a 12-month low of $87.57 and a 12-month high of $106.33. The firm’s 50-day moving average price is $96.22 and its 200-day moving average price is $97.21.

Otis Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Friday, November 15th. Otis Worldwide’s payout ratio is 38.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OTIS. Barclays decreased their price objective on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research downgraded Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 price objective on the stock. in a research report on Thursday, December 12th. UBS Group started coverage on Otis Worldwide in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $113.00 price objective for the company. Wells Fargo & Company lowered their price target on Otis Worldwide from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Otis Worldwide from $112.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $103.88.

Otis Worldwide announced that its board has authorized a share repurchase program on Thursday, January 16th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Otis Worldwide news, EVP Abbe Luersman sold 9,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total value of $909,180.00. Following the sale, the executive vice president now owns 9,992 shares in the company, valued at $1,009,391.84. This trade represents a 47.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

Otis Worldwide Company Profile

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of 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.