Carrier Global (NYSE:CARR) Updates 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on CARR. Wells Fargo & Company raised their target price on shares of Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a research report on Friday. Oppenheimer lifted their target price on Carrier Global from $63.00 to $64.00 and gave the company an outperform rating in a research report on Friday. Royal Bank of Canada cut their price target on Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Citigroup increased their target price 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, Barclays upped their price target on shares of Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $62.00.

Carrier Global Stock Up 1.2 %

Carrier Global stock traded up $0.69 during mid-day trading on Friday, reaching $60.50. 6,684,176 shares of the company were exchanged, compared to its average volume of 4,318,700. The business has a fifty day moving average of $56.54 and a 200 day moving average of $54.83. The firm has a market cap of $54.46 billion, a P/E ratio of 42.31, a PEG ratio of 2.50 and a beta of 1.39. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.40 and a current ratio of 1.36. 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 results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Research analysts anticipate that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s payout ratio is 53.15%.

Insider Activity at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the 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 sale, the chief executive officer now directly owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated 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 directly owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. 6.95% of the stock is owned by 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.