Morgan Stanley initiated coverage on Otis Worldwide with a new price target
$OTIS
Consumer Electronics/Appliances
Technology
Morgan Stanley initiated coverage of Otis Worldwide with a rating of Equal-Weight and set a new price target of $97.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/13/2024 | $97.00 → $113.00 | Neutral | UBS |
| 10/8/2024 | Outperform → Peer Perform | Wolfe Research | |
| 9/6/2024 | $97.00 | Equal-Weight | Morgan Stanley |
| 4/2/2024 | Hold | Melius | |
| 2/22/2024 | $102.00 | Hold → Buy | Argus |
| 1/2/2024 | Buy → Hold | Vertical Research | |
| 10/3/2023 | $87.00 | Neutral | UBS |
| 5/1/2023 | $75.00 → $88.00 | Underweight → Equal Weight | Wells Fargo |
FARMINGTON, Conn., Oct. 31, 2024 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE:OTIS) Board of Directors today declared a quarterly dividend of $0.39 per share of Otis' common stock. The dividend will be payable on December 6, 2024, to shareholders of record at the close of business on November 15, 2024. About Otis Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the dive
Otis delivers continued strong Service performance with high single digit Service sales growth GAAP EPS up 47.3% and adjusted EPS up 1.1%Service net sales up 7.2% and Service organic sales up 7.7%Maintenance portfolio units increased 4.2%Mod orders up 3%, backlog up 14%, up 12% at constant currencyGAAP cash flow from operations of $394 million; adjusted free cash flow of $381 millionShare repurchases of $200 millionYTD GAAP EPS up 24.2% and YTD adjusted EPS up 8.2%, share repurchases of $800 millionUpdated full-year outlook1: adjusted EPS of ~$3.85 with ~6.5% Service organic sales growth and ~75 basis points of Service margin expansionFARMINGTON, Conn., Oct. 30, 2024 /PRNewswire/ -- Otis Wor
FARMINGTON, Conn., Oct. 9, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) will host a conference call on Wednesday, October 30, 2024, at 8:30 a.m. ET. Otis Chair, CEO & President Judy Marks and Executive Vice President & CFO Cristina Mendez will discuss the company's third quarter results and 2024 outlook. We encourage you to join through our webcast link. A corresponding presentation and news release will be available on www.otis.com prior to the call and a recording will be available on the website later in the day. If you are unable to join via the webcast, please contact Otis investor relations ([email protected]) for alternative dial-in information. Additional inv
UBS resumed coverage of Otis Worldwide with a rating of Neutral and set a new price target of $113.00 from $97.00 previously
Wolfe Research downgraded Otis Worldwide from Outperform to Peer Perform
Morgan Stanley initiated coverage of Otis Worldwide with a rating of Equal-Weight and set a new price target of $97.00
FARMINGTON, Conn., Oct. 31, 2024 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE:OTIS) Board of Directors today declared a quarterly dividend of $0.39 per share of Otis' common stock. The dividend will be payable on December 6, 2024, to shareholders of record at the close of business on November 15, 2024. About Otis Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the dive
Otis delivers continued strong Service performance with high single digit Service sales growth GAAP EPS up 47.3% and adjusted EPS up 1.1%Service net sales up 7.2% and Service organic sales up 7.7%Maintenance portfolio units increased 4.2%Mod orders up 3%, backlog up 14%, up 12% at constant currencyGAAP cash flow from operations of $394 million; adjusted free cash flow of $381 millionShare repurchases of $200 millionYTD GAAP EPS up 24.2% and YTD adjusted EPS up 8.2%, share repurchases of $800 millionUpdated full-year outlook1: adjusted EPS of ~$3.85 with ~6.5% Service organic sales growth and ~75 basis points of Service margin expansionFARMINGTON, Conn., Oct. 30, 2024 /PRNewswire/ -- Otis Wor
FARMINGTON, Conn., Oct. 9, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) will host a conference call on Wednesday, October 30, 2024, at 8:30 a.m. ET. Otis Chair, CEO & President Judy Marks and Executive Vice President & CFO Cristina Mendez will discuss the company's third quarter results and 2024 outlook. We encourage you to join through our webcast link. A corresponding presentation and news release will be available on www.otis.com prior to the call and a recording will be available on the website later in the day. If you are unable to join via the webcast, please contact Otis investor relations ([email protected]) for alternative dial-in information. Additional inv
Otis Worldwide Corp (NYSE:OTIS) shares are trading lower after the company reported a second-quarter FY24 sales decline of 3.2% Y/Y to $3.60 billion, missing the consensus of $3.73 billion. Adjusted operating profit increased to $613 million from $590 million, and the margin expanded by 110 bps to 17.0%, driven by favorable segment performance and mix. New Equipment sales of $1.42 billion fell 11.4% Y/Y, with the segment operating margin expanding 30 bps to 7.7%. New Equipment orders declined 11% Y/Y at constant currency as growth in EMEA and Asia Pacific more than offset by declines in China and the Americas. The new equipment backlog fell by 4% Y/Y in the quarter. Service sales
2024 Outlook1 Otis is revising its full year outlook: Net sales of $14.3 billion to $14.5 billion Organic sales up 1% to 3% Organic New Equipment sales down mid-single digits Organic Service sales up 6% to 7% Adjusted operating profit of $2.40 billion to $2.45 billion, up $160 million to $190 million at constant currency; up $135 million to $175 million at actual currency Adjusted EPS of $3.85 to $3.90, up 9% to 10%; adjusted effective tax rate of approximately 25.25% Adjusted free cash flow of approximately $1.5 billion to $1.6 billion
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She succeeds Anurag Maheshwari to lead financial activities at Otis FARMINGTON, Conn., July 19, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Cristina Méndez as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO & President, Judy Marks. Effective August 23, Méndez will succeed Anurag Maheshwari, who is pursuing an opportunity outside Otis. "Cristina has deep expertise in financial management and extensive experience leading transformation within and outside Otis. She understands our long-term strategy and service-driven business model and how to drive growth and shareholder value," said Marks. "As a strategi
Reinforces commitment to ESG in support of its business strategy FARMINGTON, Conn., June 12, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) published its 2023 ESG Report, describing its Environmental, Social and Governance (ESG) strategy and outlining progress on its 13 ESG goals. The Otis ESG strategy focuses on the key areas of Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. Progress made in each helps to drive value for stakeholders and to advance the company's business strategy across five strategic pillars: sustain New Equipment growth, accelerate Service portfolio growth, deliver modernization value, advance digitalization, an
NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a leading data analytics and digital operations and solutions company, announced today that Thomas Bartlett has been appointed to EXL's board of directors as an independent director, effective March 6, 2024. Bartlett will serve on the board's audit committee and nominating and governance committee. The company also announced that Som Mittal has notified the board that he will not stand for re-election at EXL's 2024 annual meeting of stockholders and therefore will be retiring from the board in June 2024. "We are excited to welcome Tom to the board," said Board Chair Vikram Pandit. "Tom brings a tremendous amount of experien