Otis is trading at a discount of c.5.1% today, with potential upside of 10.3% in the next 12-18 months. The dip after its Q2 earnings release is unwarranted. The industry is facing New Equipment headwinds, mid-to-high single digit declines for 2024 and
OTIS' second-quarter 2024 results showcase a soft New Equipment segment performance, partially offset by increased contributions from the Service segment. Operational efficiency and capital allocation strategy bode well.
Although the revenue and EPS for Otis Worldwide (OTIS) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Otis Worldwide (OTIS) came out with quarterly earnings of $1.06 per share, beating the Zacks Consensus Estimate of $1.03 per share. This compares to earnings of $0.92 per share a year ago.
OTIS' second-quarter performance is likely to have benefited from strong volume and favorable pricing. Yet, currency fluctuations are a concern.
OTIS's new contract strengthens its position in the metro infrastructure sector.
Otis Worldwide (OTIS) is selected for the third time by Masterise Homes in Hanoi for providing elevators and servicing, this time for LUMIERE Evergreen.
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Otis Worldwide (OTIS) is benefiting from strategic investment initiatives, as well as growing orders and backlog trends. However, high costs & currency woes are concerns.
Otis Worldwide (OTIS) reported earnings 30 days ago. What's next for the stock?