Carrier Global Corp [CARR] stock prices are down -2.10% to $56.89 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The CARR shares have lost -0.09% over the last week, with a monthly amount drifted -0.44%, and not seem to be holding up well over a long-time horizon.
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On 4, April 2024, Carrier First Quarter 2024 Earnings Advisory. In a post published today on Yahoo Finance, Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, will release its first quarter 2024 earnings on Thursday, April 25, 2024 and host a conference call and webcast at 7:30 a.m. ET.
From an analyst’s perspective:
Carrier Global Corp [NYSE: CARR] stock has seen the most recent analyst activity on October 12, 2023, when Wolfe Research downgraded its rating to a Underperform but kept the price target unchanged to $56 for it. Previously, JP Morgan downgraded its rating to Underweight on October 06, 2023, and kept the price target unchanged to $53. On October 05, 2023, downgrade downgraded it’s rating to Underperform and revised its price target to $55 on the stock. Mizuho downgraded its rating to a Neutral and decreased its price target to $61 on September 14, 2023. Morgan Stanley downgraded its rating to a Equal-Weight and reduced its price target to $47 on June 08, 2023. Oppenheimer started tracking with a Outperform rating for this stock on March 28, 2023, and assigned it a price target of $51. In a note dated January 13, 2023, Mizuho upgraded an Buy rating on this stock and boosted its target price from $38 to $53.
The stock price of Carrier Global Corp [CARR] has been fluctuating between $40.28 and $60.87 over the past year. Currently, Wall Street analysts expect the stock to reach $52.65 within the next 12 months. Carrier Global Corp [NYSE: CARR] shares were valued at $56.89 at the most recent close of the market. An investor can expect a potential drop of -7.45% based on the average CARR price forecast.
Analyzing the CARR fundamentals
The Carrier Global Corp [NYSE:CARR] reported sales of 22.10B for trailing twelve months, representing a drop of -0.06%. Gross Profit Margin for this corporation currently stands at 0.29% with Operating Profit Margin at 0.1%, Pretax Profit Margin comes in at 0.09%, and Net Profit Margin reading is 0.06%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.16 and Total Capital is 0.09. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.69.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 56.38 points at the first support level, and at 55.86 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.43, and for the 2nd resistance point, it is at 57.97.
Carrier Global Corp [CARR] reported earnings per share of $0.53 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.51/share, meaning a difference of $0.02 and a surprise factor of 3.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.89 per share as compared to estimates of $0.79 per share, a difference of $0.1 representing a surprise of 12.70%.
Ratios To Look Out For
It’s worth pointing out that Carrier Global Corp [NYSE:CARR]’s Current Ratio is 2.73. Further, the Quick Ratio stands at 2.40, while the Cash Ratio is 1.45. Considering the valuation of this stock, the price to sales ratio is 2.32, the price to book ratio is 5.51 and price to earnings (TTM) ratio is 35.99.
Transactions by insiders
Recent insider trading involved Gitlin David L., Chairman and CEO, that happened on Feb 08 ’24 when 0.35 million shares were sold. Senior VP & CLO, O’Connor Kevin J. completed a deal on Feb 08 ’24 to sell 26551.0 shares. Meanwhile, Vice President, Controller Crockett Kyle sold 12170.0 shares on Feb 08 ’24.
