Carrier Global (NYSE:CARR) Updates FY24 Earnings Guidance

Carrier Global (NYSE:CARR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.80-2.90 for the period, compared to the consensus earnings per share estimate of $2.82. 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CARR. Citigroup boosted their target price 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 upped their price target 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. 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. Oppenheimer upped their price target on shares of Carrier Global from $63.00 to $64.00 and gave the stock an outperform rating in a research report on Friday. Finally, Royal Bank of Canada reduced their price target on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a research report on Wednesday, February 7th. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $62.00.

Carrier Global Stock Up 1.2 %

NYSE CARR traded up $0.70 during trading hours on Friday, reaching $60.51. 6,683,432 shares of the company’s stock were exchanged, compared to its average volume of 4,818,077. The company’s 50-day moving average is $56.54 and its two-hundred day moving average is $54.83. Carrier Global has a one year low of $40.28 and a one year high of $60.87. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. The company has a market capitalization of $54.47 billion, a price-to-earnings ratio of 38.30, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39.

Carrier Global (NYSE:CARR) last posted its 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. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. On average, analysts forecast that Carrier Global will post 2.82 EPS for the current fiscal year.

Carrier Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.26%. Carrier Global’s dividend payout ratio is currently 48.10%.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of the 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 completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Kevin J. O’connor sold 26,551 shares of the 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 completion of the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred 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 sale, 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. Company insiders own 6.95% of the company’s stock.

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.