Citigroup Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price target dropped by stock analysts at Citigroup from $71.00 to $70.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 26.37% from the company’s current price.

CARR has been the subject of several other research reports. UBS Group reduced their price target on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. cut their price objective on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Barclays dropped their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group dropped their target price on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.06.

Carrier Global Trading Down 1.5%

Carrier Global stock traded down $0.86 during mid-day trading on Monday, hitting $55.39. 10,881,299 shares of the company’s stock were exchanged, compared to its average volume of 6,955,871. Carrier Global has a fifty-two week low of $50.24 and a fifty-two week high of $81.09. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $46.65 billion, a P/E ratio of 12.39, a PEG ratio of 2.23 and a beta of 1.31. The company’s 50 day simple moving average is $53.99 and its 200-day simple moving average is $61.61.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the firm posted $0.83 earnings per share. Carrier Global’s revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global announced that its board has initiated a stock buyback program on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. AdvisorShares Investments LLC bought a new stake in shares of Carrier Global during the 2nd quarter valued at $25,000. Twin Peaks Wealth Advisors LLC bought a new position in Carrier Global in the 2nd quarter valued at about $26,000. Winnow Wealth LLC acquired a new position in shares of Carrier Global in the 2nd quarter valued at approximately $26,000. Traub Capital Management LLC bought a new stake in shares of Carrier Global during the 2nd quarter worth approximately $27,000. Finally, REAP Financial Group LLC acquired a new stake in shares of Carrier Global during the 2nd quarter worth approximately $29,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.