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 $2.85. The company issued revenue guidance of $25.5 billion, compared to the consensus revenue estimate of $25.64 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 CARR shares. Barclays boosted their price target on Carrier Global from $79.00 to $81.00 and gave the stock an overweight rating in a research report on Friday, June 14th. Baird R W upgraded shares of Carrier Global from a hold rating to a strong-buy rating in a report on Monday, July 15th. Robert W. Baird cut their price target on shares of Carrier Global from $75.00 to $74.00 and set an outperform rating for the company in a research note on Friday. Citigroup upgraded shares of Carrier Global from a neutral rating to a buy rating and boosted their price objective for the stock from $65.00 to $74.00 in a research note on Monday, June 24th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $72.00 target price on shares of Carrier Global in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $65.64.

Carrier Global Trading Up 3.0 %

Shares of NYSE:CARR opened at $66.77 on Friday. Carrier Global has a 12-month low of $45.68 and a 12-month high of $70.09. The business has a 50 day moving average of $64.53 and a 200-day moving average of $59.92. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The stock has a market cap of $60.16 billion, a PE ratio of 46.69, a P/E/G ratio of 2.60 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Carrier Global will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 21st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Insider Buying and Selling at Carrier Global

In related news, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Carrier Global news, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the transaction, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jurgen Timperman sold 159,915 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders sold 262,954 shares of company stock valued at $16,650,050 in the last quarter. Company insiders own 6.95% of the company’s stock.

About Carrier Global

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.