Otis Worldwide Stock Rises After Mixed Results

The company's full-year forecast was lower than expected

Laura McCandless

Deputy Editor

Jan 31, 2022 at 10:36 AM

OTIS

Otis Worldwide Corp (NYSE:OTIS) is in the spotlight this morning, after the company's fourth-quarter report. The escalator and elevator maker reported earnings of 72 cents per share, which is four cents higher than analyst estimates, however, revenue came in just below expectations. And though CEO Judy Mark is confident momentum will continue in 2022 and beyond, Otis' full-year forecast is lower than anticipated.

At last glance, OTIS was up 1.4% to trade at $83.94. The stock has had a volatile time in between the $80 and $87 levels since mid September, and more recently, its 100-day moving average appears to be keeping a cap on gains. Year-to-date, the equity is down 3.5%.

Analysts have yet to chime in on Otis' fourth-quarter results, though there is plenty of room for a shift in either direction. Of the seven brokerages in coverage, four carry a "buy" or better, and three a "hold" or worse. It's also worth noting that short interest has been on the rise, up 13.5% during the two most recent reporting periods.

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