Research Recommendations For Otis Worldwide Corporation (OTIS): Here is What You Should Know

Otis Worldwide Corporation (NYSE:OTIS) saw an upside of 0.39% to close Tuesday at $81.94 after adding $0.32 on the day. The 5-day average trading volume is 2,170,080 shares of the company’s common stock. It has gained $85.11 in the past week. An average of 3,074,450 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,335,346.

OTIS’s 1-month performance is -8.90% or -$8.61 on its low of $81.05 reached on 10/01/21. The company’s shares have touched a 52-week low of $58.77 and high of $92.84, with the stock’s rally to the 52-week high happening on 08/30/21. YTD, OTIS has achieved 21.30% or $14.39. However, the current price is down -11.74%% from the 52-week high price.

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Insider Transactions

On Jul 28, 77 days have gone by since the last insider trading activity for Otis Worldwide Corporation (OTIS). Ryan Michael Patrick (VP, CAO & Controller) most recently sold 2,220 shares at $87.44 per share on Jul 28. This transaction cost the insider $194,122. President, Otis EMEA, Calleja Fernandez Bernardo, sold 1,597 shares at a price of $87.80 on Jul 28. Then, on Apr 28, President, Otis China Zheng Peiming sold 15,234 shares at a price of $78.67 per share. This transaction amounted to $1,198,474.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 34.73 and a low of 15.52. OTIS stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.55 while the price to cash flow ratio at 28.96.

Otis Worldwide Corporation pays an annual dividend of $0.96 per share. Its dividend yield is 1.17% and the payout ratio is 31.50%. OTIS’s most recent quarterly dividend payment was made on Sep. 10, when it paid $0.24 a share compared with prior rate of $0.24, down 0.0% from last year’s. The company has boosted its dividend for the last 28 consecutive years with the latest dividend increase of $0.04 reported on Monday April 19 2021.

It is projected that Otis Worldwide Corporation’s next ex-dividend date will be on 22-Nov. OTIS is expected to distribute $0.24 as its next dividend.

Otis Worldwide Corporation’s quick ratio for the period ended June 29 was 0.90, with the current ratio over the same period at 1.00 meaning that OTIS stock is not able to fulfill its debt obligations. In terms of profitability, the gross margin trailing 12 months is 29.50%. The trailing 12-month EBITDA margin is 16.46% while for the period ending June 29; Otis Worldwide Corporation’s operating margin was 14.20%. The firm’s gross profit as reported stood at $3.78 billion against revenue of $12.76 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 18.16% to $3.7 billion, while revenue of $3.41 billion was 7.92% off the previous quarter. Analysts expected OTIS to announce $0.72 per share in earnings in its latest quarter, but it posted $0.79, representing a 9.70% surprise. EBITDA for the quarter stood at more than $612.0 million. OTIS stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 14.17 billion, with total debt at $6.19 billion. Shareholders hold equity totaling $426.78 million

Technical Picture

Let’s look briefly at Otis Worldwide Corporation (OTIS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 37.37% to suggest the stock is trending Neutral, with historical volatility in this time period at 20.33%.

The stock’s 5-day moving average is $82.85, reflecting a -1.70% or -$1.42 change from its current price. OTIS is currently trading -9.32% above its 20-day SMA, +5.92% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -8.88% and +24.55% respectively.

Stochastic %K and %D was 22.34% and 33.81% and the average true range (ATR) pointed at 1.79. The RSI (14) points at 37.63%, while the 14-day stochastic is at 15.45% with the period’s ATR at 1.77. The stock’s 9-day MACD Oscillator is pointing at -0.36 and -0.96 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Otis Worldwide Corporation (NYSE: OTIS), Wells Fargo launched coverage with an Underweight rating. Analysts offering their rating for OTIS stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate OTIS as a “sell,”, while 5 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 8 have offered a “buy” rating.

What is OTIS’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $72.00 and a high of $105.00, with their median price target at $97.00. Looking at these predictions, the average price target given by analysts is for Otis Worldwide Corporation (OTIS) stock is $94.00.


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