Otis Worldwide Corporation (NYSE:OTIS) Declares Quarterly Dividend of $0. 44
Otis Worldwide Corporation (NYSE:OTIS) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 14th will be paid a dividend of 0. 44 per share on Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2. 5%. The ex-dividend date of this dividend is Friday, August 14th.
Otis Worldwide Corporation(NYSE:OTIS-Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 14th will be paid a dividend of 0. 44 per share on Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2. 5%. The ex-dividend date of this dividend is Friday, August 14th. Otis Took Another Guidance Cut—But the Story Isn't OverOtis Worldwide has increased its dividend payment by an average of 0. 2%per year over the last three years and has increased its dividend every year for the last 5 years. Otis Worldwide has a payout ratio of 39. 2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Otis Worldwide to earn $4. 58 per share next year, which means the company should continue to be able to cover its $1. 76 annual dividend with an expected future payout ratio of 38. 4%. GetOtis Worldwidealerts:Otis Worldwide Trading Up 0. 7%NYSE:OTISopened at $70. 87 on Friday. The firm has a market capitalization of $27. 20 billion, a price-to-earnings ratio of 18. 22, a PEG ratio of 2. 61 and a beta of 0. 90. The firm's fifty day simple moving average is $71. 94 and its 200 day simple moving average is $80. 02. Otis Worldwide has a twelve month low of $69. 16 and a twelve month high of $94. 57. Why Otis Worldwide Stock Keeps Going UpOtis Worldwide (NYSE:OTIS-Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1. 01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1. 01. Otis Worldwide had a negative return on equity of 28. 50% and a net margin of 10. 17%. The firm had revenue of $3. 86 billion during the quarter, compared to the consensus estimate of $3. 76 billion. During the same period in the prior year, the firm earned $1. 05 EPS. The firm's quarterly revenue was up 7. 3% compared to the same quarter last year. Otis Worldwide has set its FY 2026 guidance at 4. 010-4. 050 EPS. On average, analysts predict that Otis Worldwide will post 4. 03 earnings per share for the current year. Analyst Ratings ChangesSeveral equities research analysts recently commented on OTIS shares. Wolfe Research downgraded Otis Worldwide from an "outperform" rating to a "peer perform" rating in a report on Wednesday, April 8th. Evercore restated an "outperform" rating and issued a $95. 00 price target on shares of Otis Worldwide in a report on Thursday. Wells Fargo & Company lowered their price objective on shares of Otis Worldwide from $92. 00 to $80. 00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Weiss Ratingslowered shares of Otis Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Finally, Sanford C. Bernstein reduced their target price on shares of Otis Worldwide from $97. 00 to $90. 00 and set an "outperform" rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $95. 45. Why Investors Can Ride Otis Worldwide Stock for a Long TimeCheck Out Our Latest Report on OTISAbout Otis Worldwide(Get Free Report)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. Further ReadingFive stocks we like better than Otis WorldwideMicrosoft Earnings Are Coming—But Azure and CapEx Will Decide the ReactionPremium Retail’s Stress Test Is Separating Winners From LosersD-Wave Quantum or a Quantum ETF: Which Is the Better Bet?GE Vernova Just Sent a Mixed AI Signal to InvestorsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat. com. Should You Invest $1,000 in Otis Worldwide Right Now?Before you consider Otis Worldwide, you'll want to hear this. 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