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

Carrier Global (NYSE:CARR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.800-2.900 for the period, compared to the consensus EPS estimate of 2.840. The company issued revenue guidance of $26.0 billion-$26.0 billion, compared to the consensus revenue estimate of $26.2 billion.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Carrier Global from $71.00 to $78.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Citigroup increased their price target on shares of 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 decreased their price target on shares of Carrier Global from $63.00 to $57.00 and set an equal weight rating on the stock in a research note on Wednesday, February 7th. Oppenheimer reaffirmed an outperform rating and issued a $63.00 price objective on shares of Carrier Global in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reduced their price objective on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. 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 company’s stock. Based on data from MarketBeat, Carrier Global has an average rating of Hold and a consensus target price of $61.15.

Carrier Global Trading Down 0.7 %

Shares of NYSE:CARR opened at $54.77 on Thursday. Carrier Global has a 12 month low of $40.28 and a 12 month high of $60.87. The company has a quick ratio of 2.40, a current ratio of 2.73 and a debt-to-equity ratio of 1.58. The company’s fifty day simple moving average is $56.34 and its 200 day simple moving average is $54.76. The firm has a market cap of $49.30 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.33 and a beta of 1.39.

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

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is currently 48.10%.

Insider Activity at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total value of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

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.