Carrier Global (NYSE:CARR) Releases FY24 Earnings Guidance

Carrier Global (NYSE:CARR - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.80-2.90 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

Several equities research analysts have recently commented on CARR shares. Citigroup boosted their price target 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 lowered their target price on Carrier Global from $63.00 to $60.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company cut their price target 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. Barclays increased their price objective on shares of Carrier Global from $71.00 to $78.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Finally, Oppenheimer reaffirmed an outperform rating and issued a $63.00 price target on shares of Carrier Global in a report on Thursday, April 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of Hold and an average target price of $61.15.

Carrier Global Trading Up 9.2 %

NYSE CARR traded up $5.04 during mid-day trading on Thursday, reaching $59.81. 10,168,668 shares of the stock were exchanged, compared to its average volume of 4,794,749. The stock has a market capitalization of $53.84 billion, a PE ratio of 37.34, a PEG ratio of 2.33 and a beta of 1.39. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.40 and a current ratio of 2.73. Carrier Global has a 1-year low of $40.28 and a 1-year high of $60.87. The business's fifty day simple moving average is $56.34 and its 200 day simple moving average is $54.76.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $5.10 billion for 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 business's revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, May 2nd. Carrier Global's dividend payout ratio is currently 48.10%.

Insider Transactions 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 shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares of the company's stock, valued at approximately $22,899,281.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Carrier Global news, CEO David L. Gitlin sold 354,539 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.16, for a total transaction of $19,201,832.24. Following the completion of the sale, the chief executive officer now directly owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kevin J. O'connor sold 26,551 shares of the firm's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now directly owns 66,083 shares in the company, 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.