Carrier Global (CARR) Scheduled to Post Quarterly Earnings on Thursday

by · The Cerbat Gem

Carrier Global (NYSE:CARR – Get Free Report) is set to issue its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Carrier Global (NYSE:CARR – Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 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

Shares of CARR opened at $80.16 on Wednesday. Carrier Global has a one year low of $45.68 and a one year high of $83.32. The stock’s fifty day moving average is $75.95 and its 200-day moving average is $67.64. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The firm has a market capitalization of $72.23 billion, a price-to-earnings ratio of 56.06, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32.

Carrier Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.95%. Carrier Global’s dividend payout ratio (DPR) is 53.15%.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $64.55, for a total value of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CARR shares. Morgan Stanley started coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 price objective on the stock. Royal Bank of Canada lifted their price target on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. initiated coverage on Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price objective for the company. Oppenheimer raised their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird dropped their price target on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.67.

Read Our Latest Report on Carrier Global

Carrier Global Company Profile

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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.

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