why Otis Worldwide Corp [OTIS] is a Good Choice for Investors After New Price Target of $92.09

Otis Worldwide Corp [NYSE: OTIS] closed the trading session at $88.44. The company report on January 31, 2024 at 6:05 AM that OTIS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS.

Delivers strong fourth quarter and full year results; announces 2024 outlook with solid sales and earnings growth with continued Service momentum.

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4Q Net sales up 5.3% and organic sales up 3.8%; GAAP EPS up 11.3% and adjusted EPS up 16.0%.

The stocks have a year to date performance of -1.15 percent and weekly performance of 0.49 percent. The stock has been moved at -1.98 percent over the last six months. The stock has performed -1.15 percent around the most recent 30 days and changed 15.55 percent over the most recent 3-months.

If compared to the average trading volume of 2.09M shares, OTIS reached to a volume of 4214758 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Otis Worldwide Corp [OTIS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTIS shares is $92.09 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 2.36. 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.

Vertical Research have made an estimate for Otis Worldwide Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 02, 2024.

The Average True Range (ATR) for Otis Worldwide Corp is set at 1.34, with the Price to Sales ratio for OTIS stock in the period of the last 12 months amounting to 2.55. Price to Free Cash Flow for OTIS in the course of the last twelve months was 24.31 with Quick ratio for the last quarter at 0.89.

OTIS stock trade performance evaluation

Otis Worldwide Corp [OTIS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.49. With this latest performance, OTIS shares dropped by -1.15% in over the last four-week period, additionally sinking by -1.98% over the last 6 months – not to mention a rise of 9.24% 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 53.25, with the RSI for the last a single of trading hit 52.03, and the three-weeks RSI is set at 54.32 for Otis Worldwide Corp [OTIS]. The present Moving Average for the last 50 days of trading for this stock 87.54, while it was recorded at 89.07 for the last single week of trading, and 84.83 for the last 200 days.

Otis Worldwide Corp [OTIS]: An insightful look at the core fundamentals

Otis Worldwide Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 0.99.

Earnings per share (EPS) analysis for Otis Worldwide Corp [OTIS] stock

With the latest financial reports released by the company, Otis Worldwide Corp posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.74/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.40%. 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 Corp go to 9.80%.

Otis Worldwide Corp [OTIS]: Institutional Ownership

The top three institutional holders of OTIS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OTIS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OTIS stock with ownership which is approximately 5.8325%.