Carrier Global (NYSE:CARR) Issues Quarterly Earnings Results

Carrier Global (NYSE:CARR - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07, Zacks reports. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter in the previous year, the business earned $0.51 earnings per share. The company's revenue was down 3.7% on a year-over-year basis. Carrier Global updated its FY 2025 guidance to 3.000-3.100 EPS.

Carrier Global Trading Up 2.6 %

Shares of CARR opened at $71.60 on Friday. Carrier Global has a 1-year low of $54.22 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $63.06 and a 200-day simple moving average of $68.39. The stock has a market cap of $61.86 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be paid a $0.225 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. Carrier Global's payout ratio is 14.33%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CARR shares. JPMorgan Chase & Co. cut their target price on shares of Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada boosted their price objective on shares of Carrier Global from $71.00 to $82.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup decreased their target price on Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho set a $72.00 price target on Carrier Global in a report on Tuesday, April 22nd. Finally, Wolfe Research raised shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Monday, February 24th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $80.86.

Hedge Funds Weigh In On Carrier Global

An institutional investor recently raised its position in Carrier Global stock. Brighton Jones LLC grew its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,958 shares of the company's stock after acquiring an additional 1,850 shares during the quarter. Brighton Jones LLC's holdings in Carrier Global were worth $543,000 at the end of the most recent quarter. 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.

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