Carrier Global (CARR) Set to Announce Earnings on Thursday

Carrier Global (NYSE:CARR) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Carrier Global to post earnings of $0.82 per share for the quarter. Carrier Global has set its FY 2024 guidance at 2.800-2.900 EPS and its FY24 guidance at $2.80-$2.90 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, analysts expect Carrier Global to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Carrier Global Trading Down 0.7 %

Shares of CARR opened at $81.05 on Thursday. Carrier Global has a 12 month low of $45.68 and a 12 month high of $83.32. The stock’s 50-day moving average is $74.63 and its two-hundred day moving average is $66.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market cap of $73.03 billion, a PE ratio of 56.68, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CARR. Royal Bank of Canada lifted their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Oppenheimer lifted their price objective on Carrier Global from $74.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Stephens cut Carrier Global from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $75.00 to $85.00 in a research note on Wednesday. Robert W. Baird cut their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Morgan Stanley started coverage on shares of Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Insiders Place Their Bets

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by insiders.

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.