Otis Worldwide (NYSE:OTIS) Releases FY 2025 Earnings Guidance

Otis Worldwide (NYSE:OTIS - Get Free Report) updated its FY 2025 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.000-4.100 for the period, compared to the consensus earnings per share estimate of 4.080. The company issued revenue guidance of $14.6 billion-$14.8 billion, compared to the consensus revenue estimate of $14.5 billion.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Otis Worldwide from $105.00 to $88.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Barclays reduced their target price on Otis Worldwide from $92.00 to $90.00 and set an "underweight" rating for the company in a report on Friday. Finally, Wells Fargo & Company lowered their price target on Otis Worldwide from $105.00 to $95.00 and set an "equal weight" rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $100.63.

Otis Worldwide Stock Up 0.2 %

Shares of NYSE:OTIS traded up $0.22 during trading on Friday, reaching $92.96. 4,901,071 shares of the company traded hands, compared to its average volume of 2,222,668. Otis Worldwide has a 1-year low of $89.70 and a 1-year high of $106.83. The firm has a market cap of $36.86 billion, a P/E ratio of 22.90 and a beta of 1.00. The firm has a fifty day simple moving average of $99.06 and a 200 day simple moving average of $98.31.

Otis Worldwide (NYSE:OTIS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. Otis Worldwide had a negative return on equity of 31.76% and a net margin of 11.53%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, research analysts anticipate that Otis Worldwide will post 4.04 EPS for the current year.

Otis Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $0.42 dividend. This is a boost from Otis Worldwide's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.68 annualized dividend and a dividend yield of 1.81%. Otis Worldwide's payout ratio is presently 44.09%.

Otis Worldwide declared that its Board of Directors has authorized a stock repurchase plan on Thursday, January 16th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Otis Worldwide

In other news, CEO Judith Fran Marks sold 28,440 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $95.77, for a total transaction of $2,723,698.80. Following the transaction, the chief executive officer now owns 230,153 shares of the company's stock, valued at approximately $22,041,752.81. This represents a 11.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Montlivault Stephane De sold 6,660 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $105.30, for a total value of $701,298.00. Following the completion of the sale, the insider now owns 63,931 shares of the company's stock, valued at approximately $6,731,934.30. This trade represents a 9.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,281 shares of company stock worth $10,747,553 over the last ninety days. 0.23% of the stock is currently owned by insiders.

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.