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

Carrier Global (NYSE:CARRGet Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.800-2.900 for the period, compared to the consensus estimate of 2.860. The company issued revenue guidance of $26.5 billion-$26.5 billion, compared to the consensus revenue estimate of $24.5 billion. Carrier Global also updated its FY24 guidance to $2.80-2.90 EPS.

Carrier Global Stock Down 0.9 %

CARR stock opened at $56.26 on Tuesday. The company has a market cap of $47.20 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 1.91 and a beta of 1.42. The business has a 50-day simple moving average of $55.76 and a 200 day simple moving average of $54.53. Carrier Global has a 52 week low of $40.28 and a 52 week high of $60.04. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 1.02.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Thursday, December 21st will be paid a dividend of $0.19 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.76 annualized dividend and a yield of 1.35%. Carrier Global’s payout ratio is presently 53.90%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Oppenheimer lowered their target price on Carrier Global from $60.00 to $58.00 and set an outperform rating for the company in a research note on Monday, October 23rd. Royal Bank of Canada restated an outperform rating and set a $59.00 price target on shares of Carrier Global in a report on Monday, December 4th. Wolfe Research cut Carrier Global from a peer perform rating to an underperform rating and set a $56.00 price target on the stock. in a report on Thursday, October 12th. Wells Fargo & Company boosted their price target on Carrier Global from $50.00 to $63.00 and gave the stock an equal weight rating in a report on Tuesday, December 19th. Finally, Citigroup boosted their price target on Carrier Global from $52.00 to $56.00 and gave the stock a neutral rating in a report on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $58.40.

Check Out Our Latest Stock Report on CARR

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 16,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.99, for a total transaction of $956,835.00. Following the transaction, the vice president now directly owns 89,920 shares of the company’s stock, valued at $5,214,460.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently modified their holdings of the company. Covestor Ltd raised its position in Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 303 shares during the last quarter. Cornerstone Planning Group LLC purchased a new stake in Carrier Global in the 2nd quarter valued at $38,000. Fortis Capital Advisors LLC purchased a new stake in Carrier Global in the 1st quarter valued at $48,000. PCA Investment Advisory Services Inc. purchased a new stake in Carrier Global in the 2nd quarter valued at $50,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Carrier Global in the 2nd quarter valued at $59,000. 91.47% of the stock is owned by institutional investors and hedge funds.

About Carrier Global

(Get Free Report)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers.

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Earnings History and Estimates for Carrier Global (NYSE:CARR)

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