KeyCorp Weighs in on Carrier Global FY2024 Earnings

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

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the business posted $0.79 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year.

CARR has been the topic of a number of other research reports. Barclays lifted their price objective on Carrier Global from $81.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on Carrier Global from $73.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada lifted their target price on Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Citigroup upgraded Carrier Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $74.00 in a research report on Monday, June 24th. Finally, Morgan Stanley started coverage on Carrier Global in a research report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.83.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $81.44 on Thursday. Carrier Global has a one year low of $45.68 and a one year high of $83.32. The company has a market cap of $73.38 billion, a price-to-earnings ratio of 56.95, a PEG ratio of 2.94 and a beta of 1.32. 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 business’s 50 day moving average price is $74.97 and its 200 day moving average price is $66.98.

Institutional Trading of Carrier Global

Institutional investors have recently bought and sold shares of the business. Olistico Wealth LLC purchased a new stake in Carrier Global during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. lifted its holdings in Carrier Global by 675.0% during 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 last quarter. Country Trust Bank purchased a new stake in Carrier Global during the 3rd quarter worth about $40,000. EdgeRock Capital LLC purchased a new stake in Carrier Global during the 2nd quarter worth about $32,000. Finally, Hantz Financial Services Inc. purchased a new stake in Carrier Global during the 2nd quarter worth about $35,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.95% of the stock is currently owned by insiders.

Carrier Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 25th. This represents a $0.76 annualized dividend and a yield of 0.93%. Carrier Global’s payout ratio is 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.