Otis Worldwide Corporation [OTIS] Revenue clocked in at $14.30 billion, down -12.63% YTD: What’s Next?

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Otis Worldwide Corporation [NYSE: OTIS] traded at a high on 04/28/22, posting a 3.40 gain after which it closed the day’ session at $76.07. The company report on April 25, 2022 that OTIS REPORTS FIRST QUARTER 2022 RESULTS.

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Delivers strong first quarter results including mid-single digit organic Service sales growth and high-single digit adjusted EPS growth.

1Q Net sales up 0.2% and organic sales up 3.1% with GAAP EPS up 2.8% and adjusted EPS up 6.9%.

The results of the trading session contributed to over 2837432 shares changing hands. Over the past one week, the price volatility of Otis Worldwide Corporation stands at 3.07% while the volatility over the past one month is 2.26%.

The market cap for OTIS stock reached $33.08 billion, with 425.30 million shares outstanding and 422.74 million shares in the current float. Compared to the average trading volume of 2.80M shares, OTIS reached a trading volume of 2837432 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Otis Worldwide Corporation [OTIS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTIS shares is $91.32 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTIS stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Otis Worldwide Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 08, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on July 07, 2021, representing the official price target for Otis Worldwide Corporation stock. Previously, the target price had yet another raise to $65, while HSBC Securities analysts kept a Hold rating on OTIS stock.

The Average True Range (ATR) for Otis Worldwide Corporation is set at 1.83, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.31. Price to Free Cash Flow for OTIS in the course of the last twelve months was 27.54 with Quick ratio for the last quarter at 1.20.

How has OTIS stock performed recently?

Otis Worldwide Corporation [OTIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.14. With this latest performance, OTIS shares dropped by -3.28% in over the last four-week period, additionally sinking by -4.58% over the last 6 months – not to mention a drop of -3.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OTIS stock in for the last two-week period is set at 51.68, with the RSI for the last a single of trading hit 54.97, and the three-weeks RSI is set at 49.75 for Otis Worldwide Corporation [OTIS]. The present Moving Average for the last 50 days of trading for this stock 76.06, while it was recorded at 74.01 for the last single week of trading, and 83.11 for the last 200 days.

Otis Worldwide Corporation [OTIS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Otis Worldwide Corporation [OTIS] shares currently have an operating margin of +15.20 and a Gross Margin at +29.43. Otis Worldwide Corporation’s Net Margin is presently recorded at +8.71.

Otis Worldwide Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.

Earnings analysis for Otis Worldwide Corporation [OTIS]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OTIS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Otis Worldwide Corporation go to 11.68%.

Insider trade positions for Otis Worldwide Corporation [OTIS]

There are presently around $26,949 million, or 85.80% of OTIS stock, in the hands of institutional investors. The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 38,297,402, which is approximately -0.373% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 37,081,287 shares of the stock with an approximate value of $2.82 billion in OTIS stocks shares; and STATE STREET CORP, currently with $1.29 billion in OTIS stock with ownership of nearly 1.753% of the company’s market capitalization.

Positions in Otis Worldwide Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 481 institutional holders increased their position in Otis Worldwide Corporation [NYSE:OTIS] by around 20,436,868 shares. Additionally, 573 investors decreased positions by around 23,826,468 shares, while 213 investors held positions by with 310,006,757 shares. The mentioned changes placed institutional holdings at 354,270,093 shares, according to the latest SEC report filing. OTIS stock had 127 new institutional investments in for a total of 3,519,723 shares, while 86 institutional investors sold positions of 4,253,112 shares during the same period.