Wall Street analysts expect Otis Worldwide (OTIS) to post quarterly earnings of $0.91 per share in its upcoming report, which indicates a year-over-year increase of 3.4%. Revenues are expected to be $3.4 billion, down 0.9% from the year-ago quarter.

The consensus EPS estimate for the quarter has undergone an upward revision of 1.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield 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' assessment points toward 'Net Sales- Service' reaching $2.23 billion. The estimate points to a change of +3.6% from the year-ago quarter.

Analysts forecast 'Net Sales- New Equipment' to reach $1.17 billion. The estimate suggests a change of -8.6% year over year.

Based on the collective assessment of analysts, 'Adjusted Operating Profit- New Equipment' should arrive at $56.21 million. Compared to the current estimate, the company reported $75 million in the same quarter of the previous year.

Analysts predict that the 'Adjusted Operating Profit- Service' will reach $548.77 million. The estimate is in contrast to the year-ago figure of $526 million.

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

Over the past month, shares of Otis Worldwide have returned -2.7% versus the Zacks S&P 500 composite's -5.6% change. Currently, OTIS carries a Zacks Rank #4 (Sell), suggesting that it may 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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This article originally published on Zacks Investment Research (zacks.com).

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