KeyCorp Forecasts 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 report issued on Monday, October 14th. KeyCorp analyst J. Hammond anticipates 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.

Several other research firms have also weighed in on CARR. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Monday, July 15th. Stephens downgraded shares of Carrier Global from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $75.00 to $85.00 in a research report on Wednesday. Royal Bank of Canada boosted their target price on shares of Carrier Global from $72.00 to $79.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. began coverage on shares of Carrier Global in a report on Thursday, October 10th. They issued a “neutral” rating and a $83.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Carrier Global Price Performance

CARR stock opened at $81.55 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The firm has a market cap of $73.48 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.94 and a beta of 1.32. The company’s fifty day simple moving average is $75.32 and its 200 day simple moving average is $67.15. Carrier Global has a 12-month low of $45.68 and a 12-month high of $83.32.

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

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, October 25th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. Carrier Global’s dividend payout ratio is presently 53.15%.

Insider Activity at Carrier Global

In related news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction that occurred 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 6.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in Carrier Global in the second quarter worth $25,000. Meeder Asset Management Inc. raised its stake in shares of 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 purchasing an additional 405 shares during the period. Country Trust Bank purchased a new position in shares of Carrier Global in the 3rd quarter worth about $40,000. EdgeRock Capital LLC bought a new position in Carrier Global during the second quarter valued at about $32,000. Finally, Hantz Financial Services Inc. purchased a new stake in Carrier Global during the second quarter worth about $35,000. 91.00% of the stock is 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.