Otis Worldwide (NYSE:OTIS - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ~$3.85 for the period, compared to the consensus estimate of $3.87. The company issued revenue guidance of ~$14.2 billion, compared to the consensus revenue estimate of $14.37 billion. Otis Worldwide also updated its FY 2024 guidance to 3.850-3.850 EPS.
Otis Worldwide Stock Down 3.1 %
Shares of Otis Worldwide stock traded down $3.12 during trading on Wednesday, reaching $98.25. The company's stock had a trading volume of 3,765,340 shares, compared to its average volume of 2,110,690. The company has a 50-day simple moving average of $98.83 and a two-hundred day simple moving average of $96.85. Otis Worldwide has a 1-year low of $76.22 and a 1-year high of $106.33. The company has a market cap of $39.35 billion, a price-to-earnings ratio of 28.40 and a beta of 1.03.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on OTIS. Wolfe Research lowered shares of Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Tuesday, October 8th. Barclays lifted their price objective on shares of Otis Worldwide from $90.00 to $96.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Otis Worldwide from $95.00 to $108.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Morgan Stanley began coverage on Otis Worldwide in a report on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price objective for the company. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $110.00 price objective on shares of Otis Worldwide in a research report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Otis Worldwide has an average rating of "Hold" and a consensus target price of $102.71.
Read Our Latest Analysis on Otis Worldwide
Otis Worldwide Company Profile
(
Get Free Report)
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.
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