Carrier Global (CARR) to Release Earnings on Thursday

Carrier Global (NYSE:CARR) is set to issue its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.82 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.Parties that wish to listen to the company’s conference call can do so using this link.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. 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 Stock Down 0.2 %

Shares of CARR opened at $81.38 on Tuesday. The stock has a market cap of $73.32 billion, a price-to-earnings ratio of 56.91, a P/E/G ratio of 2.94 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. Carrier Global has a 12 month low of $45.68 and a 12 month high of $83.32. The company has a 50-day moving average price of $75.66 and a two-hundred day moving average price of $67.48.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CARR. Bank of America lifted their target price on shares of Carrier Global from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday. Baird R W upgraded shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Oppenheimer lifted their target price on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Mizuho lifted their target price on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

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.