Carrier Global (NYSE:CARR) Issues 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 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.

Carrier Global Stock Up 1.2 %

NYSE CARR opened at $60.50 on Friday. Carrier Global has a 1 year low of $40.28 and a 1 year high of $60.87. The stock has a market capitalization of $54.46 billion, a PE ratio of 42.31, a PEG ratio of 2.53 and a beta of 1.39. 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 business’s 50-day moving average is $56.54 and its 200 day moving average is $54.83.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.12. The company had revenue of $6.18 billion during the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. Sell-side analysts forecast that Carrier Global will post 2.84 earnings per share for the current year.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a $0.19 dividend. 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 payout ratio is presently 53.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CARR shares. Royal Bank of Canada cut their price objective on shares of Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company boosted their target price on Carrier Global from $59.00 to $66.00 and gave the stock an equal weight rating in a report on Friday. Barclays lifted their price target on Carrier Global from $78.00 to $79.00 and gave the stock an overweight rating in a research report on Friday. Oppenheimer lifted their target price on shares of Carrier Global from $63.00 to $64.00 and gave the stock an outperform rating in a report on Friday. Finally, Citigroup boosted their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the stock a neutral rating in a report on Monday, April 8th. Three 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 company presently has a consensus rating of Hold and a consensus price target of $62.00.

Insider Transactions at Carrier Global

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now directly 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 SEC, which is available at this link. In related news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the 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 transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. 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.