Brokers Issue Forecasts for Carrier Global Co.’s Q3 2024 Earnings (NYSE:CARR)

Carrier Global Co. (NYSE:CARR) – Equities researchers at KeyCorp issued their Q3 2024 earnings estimates for shares of Carrier Global in a note issued to investors on Monday, October 14th. KeyCorp analyst J. Hammond anticipates that the company will post earnings of $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.

CARR has been the subject of several other research reports. Wells Fargo & Company lifted their price objective on Carrier Global from $73.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America boosted their price target on shares of Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $74.00 in a report on Monday, June 24th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Morgan Stanley assumed coverage on Carrier Global in a report on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Five research 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 has an average rating of “Moderate Buy” and a consensus price target of $79.50.

Carrier Global Stock Performance

Shares of CARR opened at $81.60 on Wednesday. Carrier Global has a 1 year low of $45.68 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock’s fifty day moving average price is $74.28 and its two-hundred day moving average price is $66.78. The firm has a market cap of $73.52 billion, a PE ratio of 57.06, a PEG ratio of 2.94 and a beta of 1.32.

Carrier Global (NYSE:CARR) last issued 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 company 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 posted $0.79 EPS. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year.

Carrier Global Announces Dividend

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

Insider Activity at Carrier Global

In other news, VP Ajay Agrawal sold 62,382 shares of Carrier Global stock in a transaction 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 completion of the sale, the vice president now directly owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Carrier Global by 0.5% in the first quarter. Vanguard Group Inc. now owns 94,289,980 shares of the company’s stock valued at $5,481,077,000 after acquiring an additional 466,829 shares in the last quarter. Capital International Investors lifted its holdings in shares of Carrier Global by 4.6% during the 1st quarter. Capital International Investors now owns 84,827,130 shares of the company’s stock valued at $4,931,001,000 after buying an additional 3,763,666 shares during the period. JPMorgan Chase & Co. grew its position in shares of Carrier Global by 280.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,098,687 shares of the company’s stock valued at $1,342,727,000 after acquiring an additional 17,021,768 shares during the period. PineStone Asset Management Inc. raised its stake in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company’s stock worth $404,903,000 after acquiring an additional 3,741,206 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Carrier Global by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,438,959 shares of the company’s stock worth $280,010,000 after purchasing an additional 72,633 shares in the last quarter. 91.00% of the stock is owned by institutional investors.

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.