Carrier Global (CARR) Set to Announce Quarterly Earnings on Thursday

Carrier Global (NYSE:CARR) is set to release its earnings data before the market opens on Thursday, April 25th. Analysts expect Carrier Global to post earnings of $0.50 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Carrier Global had a return on equity of 27.19% and a net margin of 6.10%. Carrier Global’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. 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 Price Performance

Carrier Global stock opened at $54.26 on Thursday. The stock has a 50-day moving average price of $56.45 and a two-hundred day moving average price of $54.76. Carrier Global has a 12 month low of $40.28 and a 12 month high of $60.87. The company has a market capitalization of $48.84 billion, a PE ratio of 34.34, a P/E/G ratio of 2.34 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58.

Insider Buying and Selling at Carrier Global

In related news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was 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 $22,899,281.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David L. Gitlin sold 354,539 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 422,808 shares in the company, valued at $22,899,281.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Kevin J. O’connor sold 26,551 shares of the business’s stock in a transaction dated 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 owns 66,083 shares in the company, valued at $3,553,282.91. The disclosure for this sale can be found here. Company insiders own 6.95% of the company’s stock.

Institutional Trading of Carrier Global

A number of institutional investors have recently modified their holdings of the business. State Street Corp grew its position in shares of Carrier Global by 0.6% in the first quarter. State Street Corp now owns 33,147,448 shares of the company’s stock valued at $1,516,493,000 after purchasing an additional 206,839 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carrier Global by 712.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,482,866 shares of the company’s stock worth $799,843,000 after buying an additional 15,330,140 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Carrier Global by 2.0% in the first quarter. Geode Capital Management LLC now owns 17,377,066 shares of the company’s stock valued at $793,207,000 after acquiring an additional 342,215 shares during the period. Nuveen Asset Management LLC increased its holdings in Carrier Global by 16.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 15,917,718 shares of the company’s stock worth $791,270,000 after acquiring an additional 2,197,116 shares during the period. Finally, Morgan Stanley increased its holdings in Carrier Global by 18.1% during the 4th quarter. Morgan Stanley now owns 9,414,230 shares of the company’s stock worth $388,337,000 after acquiring an additional 1,443,747 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARR has been the subject of a number of research reports. Citigroup raised their price objective on shares of Carrier Global from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays lifted their target price on Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada decreased their price target on Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company lowered their price target on shares of Carrier Global from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global has an average rating of “Hold” and an average target price of $60.77.

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.