Otis Worldwide (OTIS) Stock Price, News & Analysis

Company Overview

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. This segment serves real-estate and building developers, and general contractors. It sells its products directly to customers, as well as through agents and distributors. The Service segment performs maintenance and repair services, as well as modernization services to upgrade elevators and escalators. Otis Worldwide Corporation was founded in 1853 and is headquartered in Farmington, Connecticut.

Key Stats

• Today's Range: $99.91 to $101.81
• 50-Day Range: $93.99 to $106.01
• 52-Week Range: $83.99 to $106.33
• Volume: 1.82 million shs
• Average Volume: 2.16 million shs
• Market Capitalization: $40.43 billion
• P/E Ratio: 25.24
• Dividend Yield: 1.54%
• Price Target: $104.57
• Consensus Rating: Hold

Otis Worldwide Stock Analysis - MarketRank™

Otis Worldwide scored higher than 96% of companies evaluated by MarketBeat, and ranked 7th out of 101 stocks in the construction sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.1 / 5
• Analyst Rating: Hold

Consensus Rating

Otis Worldwide has received a consensus rating of Hold. The company's average rating score is 2.20, and is based on 2 buy ratings, 8 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Otis Worldwide has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 8.83%

Earnings Growth

Earnings for Otis Worldwide are expected to grow by 8.83% in the coming year, from $3.85 to $4.19 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Otis Worldwide is 25.24, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 116.97.

Price to Earnings Ratio vs. Sector

The P/E ratio of Otis Worldwide is 25.24, which means that it is trading at a less expensive P/E ratio than the Construction sector average P/E ratio of about 29.27.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.95% of the float of Otis Worldwide has been sold short.

Short Interest Ratio / Days to Cover

Otis Worldwide has a short interest ratio ("days to cover") of 3.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Otis Worldwide has recently decreased by 7.61%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Otis Worldwide pays a meaningful dividend of 1.56%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Otis Worldwide does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Otis Worldwide is 38.90%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Otis Worldwide will have a dividend payout ratio of 37.23% next year. This indicates that Otis Worldwide will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.9 / 5
• Environmental Score: -1.89

Percentage of Shares Shorted

1.95% of the float of Otis Worldwide has been sold short.

Short Interest Ratio / Days to Cover

Otis Worldwide has a short interest ratio ("days to cover") of 3.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Otis Worldwide has recently decreased by 7.61%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.5 / 5
• News Sentiment: 1.25

News Sentiment

Otis Worldwide has a news sentiment score of 1.25. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.85 average news sentiment score of Construction companies.

News Coverage This Week

MarketBeat has tracked 18 news articles for Otis Worldwide this week, compared to 12 articles on an average week.

Search Interest

Only 2 people have searched for OTIS on MarketBeat in the last 30 days. This is a decrease of -75% compared to the previous 30 days.

MarketBeat Follows

3 people have added Otis Worldwide to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Otis Worldwide insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $909,180.00 in company stock.

Percentage Held by Insiders

Only 0.23% of the stock of Otis Worldwide is held by insiders.

Percentage Held by Institutions

88.03% of the stock of Otis Worldwide is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

OTIS Stock Analysis - Frequently Asked Questions

How have OTIS shares performed this year?

Otis Worldwide's stock was trading at $89.47 at the start of the year. Since then, OTIS shares have increased by 13.1% and is now trading at $101.20.
View the best growth stocks for 2024 here.

How were Otis Worldwide's earnings last quarter?

Otis Worldwide Co. (NYSE:OTIS) issued its earnings results on Wednesday, October, 30th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $0.97 by $0.01. The company's revenue was up .7% on a year-over-year basis.
Read the conference call transcript.

Who are Otis Worldwide's major shareholders?

Otis Worldwide's top institutional investors include State Street Corp (4.02%), Geode Capital Management LLC (2.76%), Massachusetts Financial Services Co. MA (2.01%) and Fiera Capital Corp (1.72%). Insiders that own company stock include Judith Fran Marks, Montlivault Stephane De, Fernandez Bernardo Calleja, Peiming Zheng, Abbe Luersman, Rahul Ghai, Nora E Lafreniere, James F Cramer and Michael Patrick Ryan.
View institutional ownership trends.

How do I buy shares of Otis Worldwide?

Shares of OTIS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Otis Worldwide own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Otis Worldwide investors own include Chevron (CVX), Bristol-Myers Squibb (BMY), Comcast (CMCSA), Charles Schwab (SCHW), McKesson (MCK), Edwards Lifesciences (EW) and Yum! Brands (YUM).

Company Calendar

• Ex-Dividend for 9/6 Dividend: 8/16/2024
• Dividend Payable: 9/06/2024
• Last Earnings: 10/30/2024
• Ex-Dividend for 12/6 Dividend: 11/15/2024
• Today: 11/23/2024
• Dividend Payable: 12/06/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/29/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Construction
• Industry: Electronic, electrical equipment & components, except computer equipment
• Sub-Industry: Electrical Equipment
• Current Symbol: NYSE:OTIS
• CUSIP: N/A
• CIK: 1781335
• Web: www.otis.com
• Phone: 860-674-3000
• Fax: N/A
• Employees: 71,000
• Year Founded: 1853

Price Target and Rating

• Average Stock Price Target: $104.57
• High Stock Price Target: $113.00
• Low Stock Price Target: $94.00
• Potential Upside/Downside: +3.3%
• Consensus Rating: Hold
• Rating Score (0-4): 2.20
• Research Coverage: 10 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $4.01
• Trailing P/E Ratio: 25.24
• Forward P/E Ratio: 26.29
• P/E Growth: N/A
• Net Income: $1.41 billion
• Net Margins: 11.48%
• Pretax Margin: 14.31%
• Return on Equity: -31.28%
• Return on Assets: 15.29%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 0.80
• Quick Ratio: 0.72

Sales & Book Value

• Annual Sales: $14.21 billion
• Price / Sales: 2.85
• Cash Flow: $4.15 per share
• Price / Cash Flow: 24.38
• Book Value: ($12.10) per share
• Price / Book: -8.36

Miscellaneous

• Outstanding Shares: 399,460,000
• Free Float: 398,542,000
• Market Cap: $40.43 billion
• Optionable: Optionable
• Beta: 1.04