Carrier Global (NYSE:CARR) Releases 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 $2.85. 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 research firms have recently issued reports on CARR. Baird R W raised shares of Carrier Global from a hold rating to a strong-buy rating in a research report on Monday, July 15th. Robert W. Baird cut 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. 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 report on Friday, April 26th. Barclays boosted their target price on Carrier Global from $79.00 to $81.00 and gave the company an overweight rating in a research note on Friday, June 14th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $72.00 price target on shares of Carrier Global in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $65.64.

Carrier Global Stock Performance

Carrier Global stock traded up $1.94 during mid-day trading on Friday, reaching $66.77. The company had a trading volume of 4,351,536 shares, compared to its average volume of 4,160,366. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market cap of $60.16 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 2.52 and a beta of 1.32. Carrier Global has a 52 week low of $45.68 and a 52 week high of $70.09. The company has a 50 day moving average of $64.53 and a 200-day moving average of $59.89.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts expect that Carrier Global will post 2.85 EPS for the current fiscal year.

Carrier Global Announces Dividend

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

Insider Transactions at Carrier Global

In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were 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 in the company, valued at approximately $135,568.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction on 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. Insiders sold a total of 262,954 shares of company stock worth $16,650,050 over the last 90 days. 6.95% of the stock is owned by 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.