Carrier Global (NYSE:CARR) Releases Earnings Results, Beats Expectations By $0.07 EPS

Carrier Global (NYSE:CARR - Get Free Report) posted its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07, Zacks reports. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the company earned $0.51 EPS. The firm's revenue was down 3.7% compared to the same quarter last year. Carrier Global updated its FY 2025 guidance to 3.000-3.100 EPS.

Carrier Global Stock Up 1.5 %

NYSE CARR traded up $1.06 during trading hours on Thursday, hitting $71.05. The company's stock had a trading volume of 2,759,137 shares, compared to its average volume of 4,517,086. Carrier Global has a 52 week low of $54.22 and a 52 week high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company's 50-day simple moving average is $63.38 and its two-hundred day simple moving average is $68.16. The company has a market capitalization of $61.39 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Friday, May 2nd will be issued a $0.225 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.27%. Carrier Global's dividend payout ratio is presently 13.93%.

Institutional Investors Weigh In On Carrier Global

A hedge fund recently raised its stake in Carrier Global stock. Brighton Jones LLC lifted its position in Carrier Global Co. (NYSE:CARR - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period. Institutional investors and hedge funds own 91.00% of the company's stock.

Wall Street Analyst Weigh In

CARR has been the subject of a number of recent research reports. Citigroup decreased their price objective on Carrier Global from $89.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho set a $72.00 price target on Carrier Global in a research note on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on Carrier Global from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday. Barclays raised their price target on shares of Carrier Global from $83.00 to $84.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of Carrier Global from $71.00 to $82.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.29.

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.