Otis Worldwide (OTIS) Set to Announce Quarterly Earnings on Wednesday

Otis Worldwide (NYSE:OTIS - Get Free Report) will release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Otis Worldwide to post earnings of $0.97 per share for the quarter. Parties that are interested in participating in the company's conference call can do so using this link.

Otis Worldwide (NYSE:OTIS - Get Free Report) last announced its earnings results on Wednesday, July 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.74 billion. Otis Worldwide had a net margin of 10.35% and a negative return on equity of 31.65%. The business's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. On average, analysts expect Otis Worldwide to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Otis Worldwide Stock Down 0.1 %

OTIS traded down $0.06 on Wednesday, hitting $102.90. The company had a trading volume of 138,305 shares, compared to its average volume of 2,103,926. Otis Worldwide has a 12-month low of $73.32 and a 12-month high of $106.33. The business's fifty day simple moving average is $97.69 and its 200 day simple moving average is $96.67. The company has a market cap of $41.22 billion, a PE ratio of 28.74 and a beta of 1.03.

Otis Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, August 16th. Otis Worldwide's dividend payout ratio (DPR) is 43.58%.

Analyst Ratings Changes

Several research firms have commented on OTIS. Wells Fargo & Company lifted their price objective on shares of Otis Worldwide from $95.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Morgan Stanley began coverage on shares of Otis Worldwide in a research note on Friday, September 6th. They set an "equal weight" rating and a $97.00 price target for the company. Barclays increased their price objective on shares of Otis Worldwide from $90.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 2nd. Wolfe Research lowered Otis Worldwide from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $110.00 price target on shares of Otis Worldwide in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $102.71.

About Otis Worldwide

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.