Carrier Global (NYSE:CARR) Issues Earnings Results

Carrier Global (NYSE:CARR) released its quarterly earnings results on Tuesday. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03, Zacks reports. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same quarter in the prior year, the company posted $0.53 earnings per share. Carrier Global updated its FY 2025 guidance to 2.950-3.050 EPS.

Carrier Global Stock Down 2.4 %

Shares of NYSE:CARR opened at $63.60 on Thursday. Carrier Global has a 52-week low of $53.13 and a 52-week high of $83.32. The firm has a fifty day moving average of $68.78 and a 200 day moving average of $72.40. The firm has a market capitalization of $57.06 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08.

Carrier Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, December 20th were given a dividend of $0.225 per share. This is a positive change from Carrier Global’s previous quarterly dividend of $0.19. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, December 20th. Carrier Global’s payout ratio is 22.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Carrier Global from $83.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their price target on shares of Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Robert W. Baird lowered their price target on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Bank of America lifted their price target on shares of Carrier Global from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Mizuho lifted their price target on shares of Carrier Global from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.64.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.