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

Carrier Global (NYSE:CARR) updated its FY 2024 earnings guidance on Thursday. 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. Carrier Global also updated its FY24 guidance to $2.80-2.90 EPS.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Carrier Global from $78.00 to $79.00 and gave the company an overweight rating in a research report on Friday. Royal Bank of Canada lowered their price objective 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 raised 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 report on Friday. Citigroup raised their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, Oppenheimer raised their price objective on shares of Carrier Global from $63.00 to $64.00 and gave the company an outperform 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Carrier Global currently has a consensus rating of Hold and a consensus price target of $62.00.

Carrier Global Trading Up 1.2 %

Carrier Global stock traded up $0.69 during trading hours on Friday, reaching $60.50. The stock had a trading volume of 6,684,176 shares, compared to its average volume of 4,318,700. The stock has a market cap of $54.46 billion, a PE ratio of 42.31, a PEG ratio of 2.50 and a beta of 1.39. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.36 and a quick ratio of 2.40. The company has a fifty day simple moving average of $56.54 and a 200-day simple moving average of $54.83.

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 analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a net margin of 5.41% and a return on equity of 26.01%. Analysts forecast that Carrier Global will post 2.84 EPS for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Insiders Place Their Bets

In other news, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated 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 sale, the chief executive officer now 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 at the SEC website. In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of Carrier Global stock in a transaction dated 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 sale, the chief executive officer now directly owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 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.