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Why Otis Worldwide (OTIS) is a Top Growth Stock for the Long-Term

Zacks Equity Research
·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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Otis Worldwide (OTIS)

Incorporated on Mar 1, 2019, Otis Worldwide Corporation is one of the leading elevator and escalator manufacturing, installation and service companies. Otis has expanded business in more than 200 countries and territories across the world. Also, it has global scale and local focus with more than 1,400 branches and offices, and a direct physical presence in approximately 80 countries.

OTIS boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 9.6% year-over-year for 2024, while Wall Street anticipates its top line to improve by 3.6%.

Two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $3.88 per share for 2024. OTIS boasts an average earnings surprise of 4.9%.

Looking at cash flow, Otis Worldwide is expected to report cash flow growth of 8.3% this year; OTIS has generated cash flow growth of 3.5% over the past three to five years.

Investors should take the time to consider OTIS for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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Otis Worldwide Corporation (OTIS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research