Carrier Global (CARR) Set to Announce Quarterly Earnings on Thursday

Carrier Global (NYSE:CARR) will announce its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.50 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Carrier Global (NYSE:CARR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Carrier Global had a net margin of 6.10% and a return on equity of 27.19%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 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 Stock Performance

Shares of NYSE CARR opened at $54.26 on Thursday. Carrier Global has a 12-month low of $40.28 and a 12-month high of $60.87. The firm has a market capitalization of $48.84 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.39. The company has a current ratio of 2.73, a quick ratio of 2.40 and a debt-to-equity ratio of 1.58. The firm has a 50 day moving average of $56.45 and a 200 day moving average of $54.76.

Insider Buying and Selling

In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the sale, the vice president now directly owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Carrier Global news, VP Kevin J. O’connor sold 26,551 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.77, for a total transaction of $1,427,647.27. Following the completion of the transaction, the vice president now owns 66,083 shares of the company’s stock, valued at approximately $3,553,282.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David L. Gitlin sold 354,539 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.16, for a total value of $19,201,832.24. Following the transaction, the chief executive officer now owns 422,808 shares of the company’s stock, valued at approximately $22,899,281.28. The disclosure for this sale can be found here. 6.95% of the stock is owned by insiders.

Institutional Trading of Carrier Global

Several hedge funds have recently modified their holdings of CARR. Bragg Financial Advisors Inc grew its holdings in shares of Carrier Global by 1.8% in the fourth quarter. Bragg Financial Advisors Inc now owns 12,577 shares of the company’s stock valued at $723,000 after purchasing an additional 223 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Carrier Global by 10.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,933 shares of the company’s stock worth $146,000 after buying an additional 266 shares in the last quarter. Covestor Ltd increased its holdings in shares of Carrier Global by 121.2% in the 1st quarter. Covestor Ltd now owns 553 shares of the company’s stock worth $25,000 after buying an additional 303 shares during the last quarter. SVB Wealth LLC increased its holdings in shares of Carrier Global by 0.9% in the 1st quarter. SVB Wealth LLC now owns 36,759 shares of the company’s stock worth $1,686,000 after buying an additional 321 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Carrier Global by 8.9% during the 1st quarter. Harbour Investments Inc. now owns 3,983 shares of the company’s stock valued at $182,000 after buying an additional 324 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CARR has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Carrier Global from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Wells Fargo & Company lowered their target price on Carrier Global from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Citigroup upped their price target on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays lifted their price objective on Carrier Global from $71.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Carrier Global currently has an average rating of “Hold” and a consensus target price of $60.77.

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.