Carrier Global (NYSE:CARR) Releases FY 2024 Earnings Guidance

Carrier Global (NYSE:CARR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.500-2.500 for the period, compared to the consensus EPS estimate of 2.860. The company issued revenue guidance of $22.5 billion-$22.5 billion, compared to the consensus revenue estimate of $25.2 billion.

Carrier Global Price Performance

CARR opened at $79.95 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $76.24 and its 200 day moving average price is $67.73. The firm has a market cap of $72.04 billion, a price-to-earnings ratio of 55.91, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $83.32.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. Carrier Global’s dividend payout ratio is 53.15%.

Analysts Set New Price Targets

CARR has been the topic of a number of research reports. Morgan Stanley assumed coverage on shares of Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Mizuho upped their price objective on Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Insider Buying and Selling at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.95% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.