Carrier Global (NYSE:CARR) Releases FY24 Earnings Guidance

Carrier Global (NYSE:CARR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.80-2.90 for the period, compared to the consensus estimate of $2.82. The company issued revenue guidance of ~$26.0 billion, compared to the consensus revenue estimate of $26.36 billion. Carrier Global also updated its FY 2024 guidance to 2.800-2.900 EPS.

Carrier Global Price Performance

Carrier Global stock opened at $54.77 on Thursday. Carrier Global has a one year low of $40.28 and a one year high of $60.87. The business has a fifty day moving average price of $56.34 and a 200-day moving average price of $54.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. The firm has a market capitalization of $49.30 billion, a P/E ratio of 34.66, a PEG ratio of 2.33 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. As a group, equities research analysts forecast that Carrier Global will post 2.82 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is 48.10%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. Barclays boosted their target price on Carrier Global from $71.00 to $78.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Citigroup boosted their target price on Carrier Global from $60.00 to $63.00 and gave the company a neutral rating in a research note on Monday, April 8th. Wells Fargo & Company lowered their price target on Carrier Global from $63.00 to $57.00 and set an equal weight rating for the company in a research report on Wednesday, February 7th. Finally, Oppenheimer reaffirmed an outperform rating and set a $63.00 price target on shares of Carrier Global in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $61.15.

Insiders Place Their Bets

In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Kevin J. O’connor sold 26,551 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total value of $1,427,647.27. Following the sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the sale, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The disclosure for this sale can be found here. Company 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.