Carrier Global Co. to Post FY2024 Earnings of $2.84 Per Share, KeyCorp Forecasts (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) – Equities researchers at KeyCorp issued their FY2024 EPS estimates for Carrier Global in a research report issued on Monday, October 14th. KeyCorp analyst J. Hammond expects that the company will post earnings of $2.84 per share for the year. The consensus estimate for Carrier Global’s current full-year earnings is $2.85 per share.

Carrier Global (NYSE:CARR) last released its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS.

Several other equities analysts have also issued reports on CARR. Stephens lowered Carrier Global from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $75.00 to $85.00 in a research report on Wednesday. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $74.00 in a research note on Monday, June 24th. Oppenheimer upped their price objective on shares of Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Finally, Barclays boosted their target price on Carrier Global from $81.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Carrier Global Trading Down 0.7 %

NYSE CARR opened at $81.05 on Thursday. Carrier Global has a 12 month low of $45.68 and a 12 month high of $83.32. The stock has a 50-day simple moving average of $74.63 and a 200 day simple moving average of $66.88. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $73.03 billion, a PE ratio of 56.68, a P/E/G ratio of 2.94 and a beta of 1.32.

Carrier Global Announces Dividend

The company 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. This represents a $0.76 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.

Insider Transactions at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Carrier Global by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock worth $5,481,077,000 after purchasing an additional 466,829 shares during the last quarter. Capital International Investors increased its position in Carrier Global by 4.6% during the first quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock worth $4,931,001,000 after buying an additional 3,763,666 shares during the last quarter. JPMorgan Chase & Co. increased its position in Carrier Global by 280.1% during the first quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock worth $1,342,727,000 after buying an additional 17,021,768 shares during the last quarter. PineStone Asset Management Inc. raised its stake in Carrier Global by 139.7% in the second quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock valued at $404,903,000 after buying an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Carrier Global by 1.7% in the second quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock valued at $280,010,000 after buying an additional 72,633 shares during the last quarter. 91.00% of the stock is currently owned by institutional investors.

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.