Unlocking Q3 Potential of Otis Worldwide (OTIS): Exploring Wall Street Estimates for Key Metrics

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Wall Street analysts forecast that Otis Worldwide (OTIS) will report quarterly earnings of $0.97 per share in its upcoming release, pointing to a year-over-year increase of 2.1%. It is anticipated that revenues will amount to $3.59 billion, exhibiting an increase of 2% compared to the year-ago quarter.

Over the last 30 days, there has been an upward revision of 0.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Bearing this in mind, let's now explore the average estimates of specific Otis Worldwide metrics that are commonly monitored and projected by Wall Street analysts.

Analysts forecast 'Net Sales- Service' to reach $2.21 billion. The estimate indicates a change of +5.8% from the prior-year quarter.

Analysts expect 'Net Sales- New Equipment' to come in at $1.38 billion. The estimate indicates a change of -3.5% from the prior-year quarter.

The average prediction of analysts places 'Adjusted Operating Profit- New Equipment' at $99.45 million. Compared to the current estimate, the company reported $104 million in the same quarter of the previous year.

It is projected by analysts that the 'Adjusted Operating Profit- Service' will reach $555.31 million. Compared to the present estimate, the company reported $518 million in the same quarter last year.

View all Key Company Metrics for Otis Worldwide here>>>

Shares of Otis Worldwide have experienced a change of -3% in the past month compared to the +2% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), OTIS is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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