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

Carrier Global (NYSE:CARR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.800-2.900 for the period, compared to the consensus 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.

Carrier Global Trading Up 1.2 %

Shares of NYSE CARR traded up $0.69 during mid-day trading on Friday, reaching $60.50. 6,683,123 shares of the company’s stock were exchanged, compared to its average volume of 4,818,073. The firm has a market capitalization of $54.46 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 2.31 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. Carrier Global has a 52-week low of $40.28 and a 52-week high of $60.87. The company’s 50-day moving average is $56.41 and its 200-day moving average is $54.79.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. Analysts expect that Carrier Global will post 2.82 EPS for the current fiscal year.

Carrier Global Dividend Announcement

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 issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio is presently 48.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer increased their target price on Carrier Global from $63.00 to $64.00 and gave the stock an outperform rating in a research note on Friday. Royal Bank of Canada decreased their target price 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 Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Barclays increased their target price on Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a research note on Friday. Finally, Wells Fargo & Company increased their target price on Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a research note on Friday. Three 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $62.00.

Insider Transactions at Carrier Global

In other news, CEO David L. Gitlin sold 354,539 shares of the firm’s 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 owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Gitlin sold 354,539 shares of the firm’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 value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. Corporate insiders own 6.95% of the company’s stock.

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.