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

Otis Worldwide (NYSE:OTIS) 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 4.140. The company issued revenue guidance of $14.1 billion-$14.4 billion, compared to the consensus revenue estimate of $14.6 billion.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OTIS. JPMorgan Chase & Co. cut their target price on Otis Worldwide from $112.00 to $108.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Wolfe Research downgraded Otis Worldwide from a “peer perform” rating to an “underperform” rating and set a $104.00 target price on the stock. in a research note on Thursday, December 12th. Barclays dropped their price objective on shares of Otis Worldwide from $94.00 to $91.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of Otis Worldwide from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group began coverage on Otis Worldwide in a research report on Wednesday, November 13th. They set a “neutral” rating and a $113.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Otis Worldwide currently has an average rating of “Hold” and an average price target of $103.88.

Otis Worldwide Stock Down 0.9 %

NYSE:OTIS opened at $94.98 on Wednesday. The company has a market capitalization of $37.94 billion, a PE ratio of 23.90 and a beta of 1.06. Otis Worldwide has a 52-week low of $87.57 and a 52-week high of $106.33. The stock has a fifty day simple moving average of $96.22 and a 200-day simple moving average of $97.21.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). Otis Worldwide had a negative return on equity of 31.28% and a net margin of 11.48%. As a group, equities analysts anticipate that Otis Worldwide will post 3.86 earnings per share for the current year.

Otis Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 1.64%. Otis Worldwide’s dividend payout ratio is currently 38.90%.

Otis Worldwide declared that its Board of Directors has initiated a stock repurchase plan on Thursday, January 16th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Abbe Luersman sold 9,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $101.02, for a total transaction of $909,180.00. Following the completion of the sale, the executive vice president now directly owns 9,992 shares in the company, valued at $1,009,391.84. This represents a 47.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.

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.