Otis Worldwide (OTIS) Projected to Post Earnings on Wednesday

Otis Worldwide (NYSE:OTIS - Get Free Report) is expected to be announcing its earnings results before the market opens on Wednesday, April 23rd. Analysts expect the company to announce earnings of $0.91 per share and revenue of $3.41 billion for the quarter. Otis Worldwide has set its FY 2025 guidance at 4.000-4.100 EPS.Parties that wish to register for the company's conference call can do so using this link.

Otis Worldwide (NYSE:OTIS - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported $0.93 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.02). Otis Worldwide had a net margin of 11.53% and a negative return on equity of 31.76%. 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 Up 1.8 %

Shares of Otis Worldwide stock traded up $1.75 during trading on Friday, reaching $98.53. The company's stock had a trading volume of 1,964,356 shares, compared to its average volume of 2,191,913. The company has a market cap of $39.07 billion, a price-to-earnings ratio of 24.27 and a beta of 1.00. The firm's 50-day moving average is $99.26 and its two-hundred day moving average is $98.65. Otis Worldwide has a 52-week low of $89.70 and a 52-week high of $106.83.

Otis Worldwide declared that its Board of Directors has initiated a stock buyback program on Thursday, January 16th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Otis Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 1.58%. Otis Worldwide's dividend payout ratio (DPR) is presently 38.42%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Otis Worldwide from $105.00 to $88.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays raised their price objective on Otis Worldwide from $91.00 to $92.00 and gave the company an "underweight" rating in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company lowered their price objective on Otis Worldwide from $100.00 to $95.00 and set an "equal weight" rating for the company in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $100.88.

Insider Buying and Selling at Otis Worldwide

In other Otis Worldwide news, EVP Peiming Zheng sold 32,694 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $95.43, for a total transaction of $3,119,988.42. Following the sale, the executive vice president now directly owns 169 shares of the company's stock, valued at $16,127.67. This trade represents a 99.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Judith Fran Marks sold 38,012 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $94.41, for a total transaction of $3,588,712.92. Following the sale, the chief executive officer now directly owns 245,883 shares of the company's stock, valued at approximately $23,213,814.03. This trade represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,281 shares of company stock valued at $10,747,553. Company insiders own 0.23% of the company's stock.

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.