Royal Bank Of Canada Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price objective reduced by equities researchers at Royal Bank Of Canada from $75.00 to $70.00 in a report issued on Friday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 28.41% from the stock’s previous close.

Several other research firms also recently commented on CARR. Barclays dropped their price objective on shares of Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, September 11th. Citigroup dropped their target price on Carrier Global from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Rothschild & Co Redburn boosted their price target on Carrier Global from $66.00 to $67.00 in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research note on Monday. Finally, Wells Fargo & Company lowered their price target on shares of Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.44.

Carrier Global Price Performance

Shares of NYSE CARR opened at $54.51 on Friday. Carrier Global has a fifty-two week low of $50.30 and a fifty-two week high of $81.09. The company has a market cap of $45.91 billion, a PE ratio of 12.18, a P/E/G ratio of 2.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The business has a 50-day simple moving average of $56.60 and a two-hundred day simple moving average of $65.04.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, equities analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Carrier Global in the third quarter valued at about $25,000. CIBC Private Wealth Group LLC grew its stake in shares of Carrier Global by 0.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 108,352 shares of the company’s stock valued at $6,469,000 after buying an additional 333 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Carrier Global during the 3rd quarter worth approximately $6,528,000. Avity Investment Management Inc. raised its position in shares of Carrier Global by 4.3% during the 3rd quarter. Avity Investment Management Inc. now owns 443,914 shares of the company’s stock valued at $26,502,000 after buying an additional 18,242 shares during the period. Finally, Danske Bank A S acquired a new position in Carrier Global in the third quarter valued at approximately $17,567,000. Hedge funds and other institutional investors own 91.00% 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.