Geometry Dash APK Hill Climb Racing APK
58.2 F
New York
Wednesday, May 12, 2021

The Forecast Just Changed on Otis Worldwide Corporation (NYSE:OTIS)

Must read

Ozop Energy Solutions Inc (OZSC) is Riding a Green Wave of Momentum

Investors who are looking for fresh opportunities in rising stocks may have a lot to choose from at this point but it...

Drone Delivery Canada Corp (OTCMKTS:TAKOF) is Soaring after Roadmap Update

The drone industry has grown at a remarkable rate over the past five years or so and hence, it is no surprise...

Global Battery Metals Ltd (OTCMKTS:REZZF) in Focus: Trending Higher

Anyone who is tracking stocks that have made substantial gains over the course of the past month or so must not have...

Alpine 4 Technologies Ltd (OTCMKTS:ALPP) Showing Strength After Patent Approval

Investors who believe in long-term wealth creation are often on the hunt for stocks that have recorded significant gains over a reasonable...

Otis Worldwide Corporation (OTIS) shares are trading at lower $63.21 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $66.88.

To add more color to this target, the company’s high over the last year is $66.00 and the low is $38.00 while the S&P 500 is up 12.53%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, OTIS reported a profit of $891.0 million. Otis Worldwide Corporation also saw revenues increase to $3.03 billion. In addition, OTIS has free cash flow of $748.0 million as of 06-2020. The company’s EBITDA came in at $465.0 million which compares well with its peers.

Find out when OTIS reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. OTIS has a short ratio of 2.24 and outstanding shares of 433.10M.

Company Outlook

OTIS has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.84 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.13. Otis Worldwide Corporation OTIS also noted assets of $10.44 billion at the end of the last quarter. Investors should also keep an eye on sector updates as OTIS has historically followed its peers on positive news.

All told, Otis Worldwide Corporation OTIS has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OTIS represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Otis Worldwide Corporation OTIS is now commanding a market cap of 27.28B and a float of 433.04M. OTIS is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of OTIS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in OTIS, either long or short, and we have not been compensated for this article.

Latest article

Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) Gathers Further Momentum

If you are currently looking for stocks that may have recorded massive gains within a short period of time, then it might...

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

BIGG Digital Assets Inc (OTCMKTS:BBKCF) is Struggling to Regain Momentum

Over the course of the past few months, the continued rally in some of the biggest cryptocurrencies has led to considerable interest...

Sundial Growers Inc (NASDAQ:SNDL) Struggles to Sustain At Higher Levels After Earnings

In recent times, plenty of cannabis stocks have been in action due to rising optimism about the sector and one such stock...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service