Mizuho Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

by · The Markets Daily

Carrier Global (NYSE:CARR – Get Free Report) had its price objective lowered by stock analysts at Mizuho from $75.00 to $67.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 25.28% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Rothschild & Co Redburn lifted their target price on shares of Carrier Global from $66.00 to $67.00 in a research note on Thursday, October 30th. Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Barclays cut their price target on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group dropped their target price on shares of Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Hold” and an average target price of $71.50.

Get Our Latest Stock Report on Carrier Global

Carrier Global Stock Performance

Carrier Global stock opened at $53.48 on Monday. The firm has a fifty day simple moving average of $54.52 and a two-hundred day simple moving average of $62.23. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global has a twelve month low of $50.30 and a twelve month high of $81.09. The company has a market capitalization of $45.04 billion, a PE ratio of 11.96, a P/E/G ratio of 2.12 and a beta of 1.31.

Carrier Global (NYSE:CARR – Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. Research analysts expect that Carrier Global will post 2.99 EPS for the current year.

Carrier Global announced that its board has authorized a stock buyback plan 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 plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AdvisorShares Investments LLC bought a new stake in Carrier Global during the 2nd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Carrier Global in the second quarter worth approximately $26,000. Winnow Wealth LLC purchased a new stake in shares of Carrier Global during the second quarter valued at approximately $26,000. Traub Capital Management LLC purchased a new stake in shares of Carrier Global during the second quarter valued at approximately $27,000. Finally, REAP Financial Group LLC bought a new stake in shares of Carrier Global during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

About Carrier Global

(Get Free Report)

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.

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