Carrier Global (NYSE:CARR) Releases FY24 Earnings Guidance

Carrier Global (NYSE:CARR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.80-2.90 for the period, compared to the consensus estimate of $2.82. The company issued revenue guidance of ~$26.0 billion, compared to the consensus revenue estimate of $26.36 billion. Carrier Global also updated its FY 2024 guidance to 2.800-2.900 EPS.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer reaffirmed an outperform rating and set a $63.00 price target on shares of Carrier Global in a research report on Thursday, April 18th. Citigroup lifted 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. Royal Bank of Canada reduced their target price on Carrier Global from $63.00 to $60.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. Barclays lifted their target price on Carrier Global from $71.00 to $78.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company reduced their target price on Carrier Global from $63.00 to $57.00 and set an equal weight rating for the company in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $61.15.

Carrier Global Price Performance

Shares of NYSE CARR opened at $54.77 on Thursday. The stock has a market capitalization of $49.30 billion, a PE ratio of 34.66, a P/E/G ratio of 2.33 and a beta of 1.39. 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 business has a fifty day moving average price of $56.34 and a two-hundred day moving average price of $54.76. Carrier Global has a fifty-two week low of $40.28 and a fifty-two week high of $60.87.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. As a group, equities analysts predict that Carrier Global will post 2.82 earnings per share for the current fiscal year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Friday, May 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.76 annualized dividend and a yield of 1.39%. Carrier Global’s dividend payout ratio is presently 48.10%.

Insider Buying and Selling at Carrier Global

In other news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David L. Gitlin sold 354,539 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 approximately $3,553,282.91. The disclosure for this sale can be found here. 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.