Higher interest rates were supposed to crush the housing market. However, despite mortgage rates remaining elevated, there isn’t much sign of a serious slowdown in the housing sector. And government stimulus has helped elevate building activity in the infrastructure and renewable energy sectors among others.All this adds up to a more optimistic outlook for construction stocks. In fact, quite a few companies across the infrastructure, building materials, and architecture and engineering space are at or near ...

Otis will modernize 34 elevators and eight escalators and maintain all units in the world-famous landmark   Otis installed the iconic building's original elevators and escalators in 2010 The Burj Khalifa is the world's tallest building, welcoming approximately 17 million visitors annually These upgrades will support safe and efficient vertical mobility for years to come DUBAI, UAE, March 6, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS), the world's leading manufacturer of elevators, escalato ...

Have you been paying attention to shares of Otis Worldwide (OTIS) ? Shares have been on the move with the stock up 3.9% over the past month. The stock hit a new 52-week high of $92.93 in the previous session. Otis Worldwide has gained 3.3% since the start of the year compared to the 5.2% move for the Zacks Construction sector and the 8.6% return for the Zacks Building Products - Miscellaneous industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it ...

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the Zacks Growth Style Score (part of th ...

Investors might want to bet on Otis Worldwide (OTIS) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The po ...

Highlights accelerating portfolio growth with Service sales growing mid-single digits or higher, while gaining share in New Equipment Outlines medium-term outlook* with low to mid-single digit organic sales growth and over 10% annualized adjusted EPS growth Plans to return over $8 billion in capital to shareholders through dividends and share repurchases through 2028 FARMINGTON, Conn., Feb. 15, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) is hosting its 2024 Investor Day at the New York St ...

FARMINGTON, Conn., Feb. 1, 2024 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE: OTIS) Board of Directors today declared a quarterly dividend of $0.34 per share of Otis' common stock. The dividend will be payable on March 8, 2024, to shareholders of record at the close of business on February 16, 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 world ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 10-K ____________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission file number 001-39221 ____________________________________ OTIS WORLDWIDE CORPORATION (Exact name of registra ...

Otis Worldwide Corporation (NYSE:OTIS) Q4 2023 Results Conference Call January 31, 2024 8:30 AM ET Company Participants Michael Rednor - Senior Director, Investor Relations Judy Marks - Chief Executive Officer and President Anurag Maheshwari - Executive Vice President and Chief Financial Officer Conference Call Participants Nigel Coe - Wolfe Research Gautam Khanna - TD Cowen Julian Mitchell - Barclays Miguel Borrega - Exane BNP Paribas Operator Good morning, and welcome to Otis' Fourth Quarter 2023 Earnings ...

For the quarter ended December 2023, Otis Worldwide (OTIS) reported revenue of $3.62 billion, up 5.3% over the same period last year. EPS came in at $0.87, compared to $0.75 in the year-ago quarter.The reported revenue represents a surprise of +1.27% over the Zacks Consensus Estimate of $3.57 billion. With the consensus EPS estimate being $0.85, the EPS surprise was +2.35%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...