The stock price of Otis Worldwide Corporation (NYSE: OTIS) has surged by 0.39 when compared to previous closing price of 81.39, but the company has seen a -1.06% decline in its stock price over the last five trading sessions. Seeking Alpha reported 2023-09-14 that Otis Worldwide Corporation (NYSE:OTIS ) Morgan Stanley 11th Annual Laguna Conference Call September 14, 2023 12:20 PM ET Company Participants Judy Marks – Chair, Chief Executive Officer and President Conference Call Participants Joshua Pokrzywinski – Morgan Stanley Joshua Pokrzywinski All right. Good morning, everybody.
Is It Worth Investing in Otis Worldwide Corporation (NYSE: OTIS) Right Now?
The price-to-earnings ratio for Otis Worldwide Corporation (NYSE: OTIS) is above average at 25.74x. The 36-month beta value for OTIS is also noteworthy at 0.87. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 1 rating it as “overweight,” 8 rating it as “hold,” and 0 rating it as “sell.”
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The average price estimated by analysts for OTIS is $90.37, which is $8.38 above than the current price. The public float for OTIS is 409.75M, and at present, short sellers hold a 1.01% of that float. The average trading volume of OTIS on September 19, 2023 was 1.80M shares.
OTIS’s Market Performance
The stock of Otis Worldwide Corporation (OTIS) has seen a -1.06% decrease in the past week, with a -2.41% drop in the past month, and a -6.17% fall in the past quarter. The volatility ratio for the week is 1.47%, and the volatility levels for the past 30 days are at 1.51% for OTIS. The simple moving average for the past 20 days is -2.14% for OTIS’s stock, with a -2.44% simple moving average for the past 200 days.
Analysts’ Opinion of OTIS
Many brokerage firms have already submitted their reports for OTIS stocks, with Wells Fargo repeating the rating for OTIS by listing it as a “Equal Weight.” The predicted price for OTIS in the upcoming period, according to Wells Fargo is $88 based on the research report published on May 01, 2023 of the current year 2023.
OTIS Trading at -5.26% from the 50-Day Moving Average
After a stumble in the market that brought OTIS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.53% of loss for the given period.
Volatility was left at 1.51%, however, over the last 30 days, the volatility rate increased by 1.47%, as shares sank -1.87% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.10% lower at present.
During the last 5 trading sessions, OTIS fell by -0.76%, which changed the moving average for the period of 200-days by +4.96% in comparison to the 20-day moving average, which settled at $83.42. In addition, Otis Worldwide Corporation saw 4.34% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OTIS starting from Ryan Michael Patrick, who sale 6,372 shares at the price of $90.50 back on Jul 28. After this action, Ryan Michael Patrick now owns 0 shares of Otis Worldwide Corporation, valued at $576,676 using the latest closing price.
Calleja Fernandez Bernardo, the President, Otis EMEA of Otis Worldwide Corporation, sale 3,992 shares at $90.70 during a trade that took place back on Jul 28, which means that Calleja Fernandez Bernardo is holding 42,097 shares at $362,060 based on the most recent closing price.
Stock Fundamentals for OTIS
Current profitability levels for the company are sitting at:
- +15.16 for the present operating margin
- +28.78 for the gross margin
The net margin for Otis Worldwide Corporation stands at +9.16. The total capital return value is set at 56.45, while invested capital returns managed to touch 45.54. Equity return is now at value -27.30, with 13.60 for asset returns.
When we switch over and look at the enterprise to sales, we see a ratio of 2.85, with the company’s debt to enterprise value settled at 0.18. The receivables turnover for the company is 3.51 and the total asset turnover is 1.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.90.
Conclusion
In summary, Otis Worldwide Corporation (OTIS) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
