Otis Worldwide Corp (NYSE:OTIS) finished Friday with a subtraction of -$0.16 to close at $80.31, a downside of -0.20 percent. An average of 2,197,540 shares of common stock have been traded in the last five days. There was a fall of -$0.51 in the past week, and it reached a new high 40 times over the past 12 months. The last 20 days have seen an average of 1,947,475 shares traded, while the 50-day average volume stands at 1,938,204.
OTIS stock has decreased by -6.25% in the last month. The company shares reached their 1-month lowest point of $79.13 on 09/27/23. With the stock rallying to its 52-week high on 07/27/23, shares of the company touched a low of $62.49 and a high of $91.33 in 52 weeks. It has reached a new high 22 times so far this year and achieved 2.55% or $2.00 in price. In spite of this, the price is down -12.07% from the 52-week high.
Insider Transactions
OTIS stock investors should be aware that Otis Worldwide Corp (OTIS) stock had its last reported insider trading activity 64 days ago on Jul 28. In this transaction, the insider spent $576,676. President, Otis EMEA, Calleja Fernandez Bernardo, disposed of 3,992 shares at a price of $90.70 on Jul 28. The insider now owns more than $362,060 worth of shares. Prior to that, President, Otis EMEA Calleja Fernandez Bernardo went on to Sale 703 shares at $86.85 each on Mar 06. An amount of $61,058 was transacted.
Valuation Metrics
Otis Worldwide Corp (OTIS) has a trailing price-to-earnings (P/E) ratio of 25.30. The stock’s beta is 0.87. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.39, and the price-to-cash flow ratio at 25.30.
The company has a payout ratio of 37.47%. The company’s most recent quarterly dividend payment was $0.34 a share, without any change from last year. Its latest increase dividend $0.05 reported on Tuesday April 25 2023.
Financial Health
The quick ratio of Otis Worldwide Corp for the three months ended June 29 was 0.81, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Its gross profit as reported stood at $3.92 billion compared to revenue of $13.69 billion.
Earnings Surprise
For the three-month period that ended June 29, Otis Worldwide Corp had $6.12 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $376.0 million in the quarter, while revenues were grew 14.63%. The analyst consensus anticipated Otis Worldwide Corp’s latest quarter earnings to come in at $0.86 per share, but it turned out to be $0.92, a 7.00% surprise. For the quarter, EBITDA amounted to $632.0 million. Shareholders own equity worth $411.75 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Otis Worldwide Corp (OTIS) price momentum. RSI 9-day as of the close on 29 September was 38.23%, suggesting the stock is Neutral, with historical volatility in this time frame at 15.22%.
As of today, OTIS’s price is $80.07 -0.63% or -$0.51 from its 5-day moving average. OTIS is currently trading -6.13% lower than its 20-day SMA and -6.35% lower than its 100-day SMA. However, the stock’s current price level is -7.54% below the SMA50 and -0.29% below the SMA200.
The stochastic %K and %D were 21.95% and 13.95%, respectively, and the average true range (ATR) was 1.26. With the 14-day stochastic at 30.65% and the average true range at 1.28, the RSI (14) stands at 37.35%. The stock has reached -0.62 on the 9-day MACD Oscillator while the 14-day reading was at -0.96.
Analyst Ratings
Wells Fargo upgraded Otis Worldwide Corp (NYSE: OTIS) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for Otis Worldwide Corp (OTIS) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell OTIS, while 7 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is OTIS’s price target for the next 12 months?
Analysts predict a range of price targets between $77.00 and $100.00, with a median target of $92.00. Taking a look at these predictions, the average price target given by analysts for Otis Worldwide Corp (OTIS) stock is $90.58.
