Otis Worldwide Corporation (OTIS) To Go Ex-Dividend on February 13th

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Friday, February 13th will be given a dividend of 0.42 per share on Friday, March 13th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, February 13th.

Otis Worldwide has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Otis Worldwide has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Otis Worldwide to earn $4.42 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 38.0%.

Otis Worldwide Stock Performance

Shares of OTIS opened at $90.03 on Wednesday. The business’s fifty day moving average price is $88.54 and its two-hundred day moving average price is $88.87. The firm has a market capitalization of $35.00 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.69 and a beta of 1.01. Otis Worldwide has a 52 week low of $84.00 and a 52 week high of $106.83.

Otis Worldwide (NYSE:OTIS) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $1.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.03. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.88 billion. Otis Worldwide had a negative return on equity of 30.42% and a net margin of 9.59%.The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 earnings per share. As a group, research analysts forecast that Otis Worldwide will post 4.04 EPS for the current year.

Analyst Upgrades and Downgrades

OTIS has been the topic of several recent research reports. Wall Street Zen lowered shares of Otis Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Zacks Research upgraded shares of Otis Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. lowered shares of Otis Worldwide from an “overweight” rating to a “neutral” rating and set a $98.00 target price for the company. in a report on Friday, January 30th. New Street Research set a $98.00 price target on Otis Worldwide in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Otis Worldwide in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.44.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.