KeyCorp Comments on Carrier Global Co.’s Q3 2024 Earnings (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) – Analysts at KeyCorp issued their Q3 2024 earnings estimates for Carrier Global in a research report issued to clients and investors on Monday, October 14th. KeyCorp analyst J. Hammond expects that the company will earn $0.81 per share for the quarter. The consensus estimate for Carrier Global’s current full-year earnings is $2.85 per share. KeyCorp also issued estimates for Carrier Global’s Q4 2024 earnings at $0.55 EPS and FY2025 earnings at $2.95 EPS.

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

A number of other equities research analysts have also recently issued reports on the company. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Bank of America upped their price objective on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Oppenheimer increased their target price on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. Six 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 stock. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average price target of $80.00.

Carrier Global Price Performance

Carrier Global stock opened at $81.05 on Wednesday. The firm has a market capitalization of $73.03 billion, a P/E ratio of 56.68, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global has a 1 year low of $45.68 and a 1 year high of $83.32. The business has a 50-day moving average of $74.63 and a 200-day 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.

Institutional Trading of Carrier Global

A number of institutional investors have recently modified their holdings of the company. Olistico Wealth LLC bought a new position in Carrier Global during the second quarter valued at about $25,000. Meeder Asset Management Inc. increased its position in Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares during the period. Country Trust Bank bought a new position in Carrier Global in the 3rd quarter worth approximately $40,000. EdgeRock Capital LLC bought a new position in Carrier Global in the 2nd quarter worth approximately $32,000. Finally, Hantz Financial Services Inc. bought a new position in Carrier Global in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Transactions at Carrier Global

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

Carrier Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, October 25th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, October 25th. Carrier Global’s dividend payout ratio is presently 53.15%.

About Carrier Global

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.