Why Otis Worldwide (OTIS) is a Top Momentum Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
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 is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 0.9% over the past one week and up 6.2% over the past four weeks. OTIS has gained 23.4% in the last one-year period as well. Looking at trading volume, an average of 1,888,765.38 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.07 to $3.87 per share. OTIS boasts an average earnings surprise of 6.7%.
Investors should take the time to consider OTIS for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Otis Worldwide Corporation (OTIS) : Free Stock Analysis Report
