Carrier Global (CARR) to Release Earnings on Thursday

Carrier Global (NYSE:CARR) is set to release its earnings data before the market opens on Thursday, April 25th. Analysts expect Carrier Global to post earnings of $0.50 per share for the quarter. Carrier Global has set its FY 2024 guidance at 2.800-2.900 EPS and its FY24 guidance at $2.80-2.90 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Carrier Global’s revenue was down .1% compared to the same quarter last year. On average, analysts expect Carrier Global to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Carrier Global Price Performance

CARR opened at $53.62 on Tuesday. Carrier Global has a one year low of $40.28 and a one year high of $60.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.73 and a quick ratio of 2.40. The company’s 50 day simple moving average is $56.32 and its 200-day simple moving average is $54.75. The stock has a market capitalization of $48.26 billion, a P/E ratio of 33.94, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39.

Carrier Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.42%. Carrier Global’s dividend payout ratio (DPR) is currently 48.10%.

Insider Transactions at Carrier Global

In other news, VP Kevin J. O’connor sold 26,551 shares of Carrier Global stock in a transaction 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 transaction, the vice president now directly owns 66,083 shares of the company’s stock, valued at $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction on 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 $22,899,281.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the firm’s stock in a transaction on 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 in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada reduced 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 note on Wednesday, February 7th. Barclays raised their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. 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 note on Monday, April 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $63.00 price objective on shares of Carrier Global in a research note on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carrier Global currently has an average rating of “Hold” and an average price target of $61.15.

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.