Carrier Global (NYSE:CARR) Issues FY24 Earnings Guidance

Carrier Global (NYSE:CARR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.80-$2.90 for the period, compared to the consensus earnings per share estimate of $2.85. The company issued revenue guidance of $25.5 billion, compared to the consensus revenue estimate of $25.64 billion. Carrier Global also updated its FY 2024 guidance to 2.800-2.900 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CARR. Royal Bank of Canada reaffirmed an outperform rating and issued a $72.00 target price on shares of Carrier Global in a research report on Friday. Citigroup raised shares of Carrier Global from a neutral rating to a buy rating and upped their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Wells Fargo & Company increased their price objective on shares of Carrier Global from $59.00 to $66.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Robert W. Baird dropped their target price on shares of Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a research report on Friday. Finally, Oppenheimer reduced their price target on shares of Carrier Global from $71.00 to $70.00 and set an outperform rating on the stock in a research report on Friday. Three research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $65.64.

Carrier Global Stock Up 3.0 %

Shares of Carrier Global stock opened at $66.77 on Friday. The stock has a market capitalization of $60.16 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 2.60 and a beta of 1.32. Carrier Global has a twelve month low of $45.68 and a twelve month high of $70.09. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.80. The business’s 50 day simple moving average is $64.53 and its 200-day simple moving average is $59.92.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the company earned $0.79 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s payout ratio is 53.15%.

Insiders Place Their Bets

In other news, CAO Kyle Crockett sold 4,611 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the completion of the transaction, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total transaction of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at $135,568.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jurgen Timperman sold 159,915 shares of Carrier Global stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,954 shares of company stock worth $16,650,050. 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.