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

Carrier Global (NYSE:CARR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.800-2.900 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

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

Carrier Global Stock Down 0.7 %

Shares of Carrier Global stock opened at $54.77 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The company’s fifty day simple moving average is $56.34 and its two-hundred day simple moving average is $54.76. The company has a market cap 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 has a 12-month low of $40.28 and a 12-month high of $60.87.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. Research analysts anticipate that Carrier Global will post 2.82 EPS for the current year.

Carrier Global Announces Dividend

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

Insider Buying and Selling

In related news, VP Kevin J. O’connor sold 26,551 shares of the company’s 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 transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Kevin J. O’connor sold 26,551 shares of the company’s 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 transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was 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 owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

About Carrier Global

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.