Carrier Global (NYSE:CARR) Releases 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 $2.82. 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.

Carrier Global Stock Up 1.2 %

Carrier Global stock traded up $0.70 during trading on Friday, hitting $60.51. 6,683,432 shares of the company were exchanged, compared to its average volume of 4,818,077. The business’s 50 day moving average is $56.54 and its 200 day moving average is $54.83. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.87. The company has a market capitalization of $54.47 billion, a P/E ratio of 38.30, a PEG ratio of 2.31 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $6.27 billion. Analysts predict that Carrier Global will post 2.82 earnings per share for the current year.

Carrier Global Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on CARR. Citigroup lifted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Oppenheimer boosted their price target on shares of 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 lowered 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. Wells Fargo & Company boosted their price target on shares of Carrier Global from $59.00 to $66.00 and gave the company an equal weight rating in a research report on Friday. Finally, Barclays boosted their price target on shares of Carrier Global from $78.00 to $79.00 and gave the company an overweight rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $62.00.

Insider Activity at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on 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 owns 422,808 shares of the company’s stock, valued at $22,899,281.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction that occurred on 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 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 corporate 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.