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

Carrier Global (NYSE:CARR) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce 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.Parties that are interested in registering for the company’s conference call can do so using this link.

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

NYSE:CARR opened at $55.17 on Wednesday. Carrier Global has a 1 year low of $40.28 and a 1 year high of $60.87. The firm has a 50 day moving average of $56.34 and a 200-day moving average of $54.76. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $49.66 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Friday, May 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 2nd. Carrier Global’s dividend payout ratio (DPR) is presently 48.10%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CARR shares. Barclays lifted their target price on shares of Carrier Global from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 target price on shares of Carrier Global in a report on Thursday, April 18th. Royal Bank of Canada decreased their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company decreased 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. Finally, Citigroup boosted their price target 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. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and a consensus price target of $61.15.

Insiders Place Their Bets

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David L. Gitlin sold 354,539 shares of the 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 sale, the chief executive officer now owns 422,808 shares in the company, valued at approximately $22,899,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the sale, the vice president now owns 66,083 shares in the company, valued at approximately $3,553,282.91. The disclosure for this sale can be found here. Company 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.