Carrier Global (NYSE:CARR – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02, Briefing.com reports. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. 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 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Carrier Global updated its FY 2024 guidance to 2.800-2.900 EPS and its FY24 guidance to $2.80-$2.90 EPS.
Carrier Global Price Performance
Shares of CARR stock traded up $1.94 during trading on Friday, hitting $66.77. The company had a trading volume of 4,351,523 shares, compared to its average volume of 4,472,202. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market capitalization of $60.16 billion, a P/E ratio of 46.69, a price-to-earnings-growth ratio of 2.57 and a beta of 1.32. The stock’s 50-day moving average price is $64.53 and its 200 day moving average price is $59.89. Carrier Global has a one year low of $45.68 and a one year high of $70.09.
Carrier Global Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is currently 53.15%.
Insider Activity at Carrier Global
Wall Street Analysts Forecast Growth
Several research firms have issued reports on CARR. Robert W. Baird dropped their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup raised 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. Wells Fargo & Company lifted their target price on Carrier Global from $59.00 to $66.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Barclays lifted their target price on Carrier Global from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Finally, Oppenheimer lowered their target price on Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.64.
View Our Latest Stock Report on CARR
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.
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