Over the past weeks,
Otis Worldwide Corp. (OTIS) has had significant ups and downs.
Barclay's has downgraded the company's stock due to cautious views on the construction market, while various financial bodies have reduced their shares in OTIS. Despite a weaker quarter, strong Q3 2024 results have been reported by the company.
Otis has announced dual debt offerings to streamline financial structures and issued $600 million in 5.1% notes due 2031. The company's insiders sold substantial amounts of stock, suggesting potential weaknesses. Still, OTIS's stock has occasionally outperformed the market. The company is marching ahead with business scope expansion, installing SkyRise Elevator System at
Kuala Lumpur's Dawn KLCC and acquiring Jardine Schindler Lifts in Taiwan. Italian competition watchdog's investigation into the elevator maker is noteworthy. On the flip side, OTIS's Q3 earnings have fallen short of estimates, leading to the lowering of its FY2024 EPS estimate by
Zacks Research. Despite this, inducements for potential growth exist, as market tailwinds are lifting new equipment prospects.
Otis Worldwide Corporation OTIS News Analytics from Wed, 12 Jun 2024 07:00:00 GMT to Sat, 07 Dec 2024 10:56:43 GMT -
Rating 0
- Innovation -3
- Information 8
- Rumor -4
