In today’s recent session, 1.32 million shares of the Carrier Global Corporation (NYSE:CARR) were traded. Most recently the company’s share price was $41.15, and it changed around -$0.36 or -0.87% from the last close, which brings the market valuation of the company to $35.04B. CARR at last check was trading at a discount to its 52-week high of $49.17, offering almost -19.49% off that amount. The share price’s 52-week low was $33.10, which indicates that the recent value has risen by an impressive 19.56% since then. We note from Carrier Global Corporation’s average daily trading volume that its 10-day average is 4.75 million shares, with the 3-month average coming to 5.76 million.
Carrier Global Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.40. If we narrow it down even further, the data shows that 0 out of 22 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 13 recommended CARR as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Carrier Global Corporation is expected to report earnings per share of $0.77 for the current quarter.
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Carrier Global Corporation (NYSE:CARR) trade information
Instantly CARR has been showing red trend so far today with a performance of -0.87% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 43.68 on Tuesday, 05/23/23 increased the stock’s daily price by 5.79%. The company’s shares are currently down -0.24% year-to-date, but still down -4.08% over the last five days. On the other hand, Carrier Global Corporation (NYSE:CARR) is -2.76% down in the 30-day period. We can see from the shorts that 16.32 million shares have been sold at a short interest cover period of 2.61 day(s).
Carrier Global Corporation (CARR) estimates and forecasts
Carrier Global Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -6.24 percent over the past six months and at a 9.83% annual growth rate that is well below the industry average of 12.60%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 11.60% in revenue this quarter, and will report an increase of 12.90% in the next quarter. The year-over-year growth rate is expected to be 8.90%, up from the previous year.
Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $5.83 billion in revenue for the current quarter. 15 analysts expect Carrier Global Corporation to make $5.83 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $5.21 billion and $5.43 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 11.80%. Forecasts for the next quarter put sales growth at 7.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 23.70%. Carrier Global Corporation earnings are expected to increase by 119.60% in 2023, but the outlook is positive 12.07% per year for the next five years.
Carrier Global Corporation’s next quarterly earnings report is expected to be released around July 26 and July 31. The annual dividend yield of the stock is 1.78 percent and its annual dividend per share was 0.74. It is important to note, however, that the 1.78% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Carrier Global Corporation (NYSE:CARR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.10% of Carrier Global Corporation shares, and 87.74% of them are in the hands of institutional investors. The stock currently has a share float of 87.83%. Carrier Global Corporation stock is held by 1,599 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 11.33% of the shares, which is about 94.57 million shares worth $3.91 billion.
Capital Research Global Investors, with 9.23% or 77.08 million shares worth $3.19 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Growth Fund Of America Inc and Investment Company Of America were the top two Mutual Funds as of Mar 30, 2023. The former held 47.88 million shares worth $1.98 billion, making up 5.73% of all outstanding shares. On the other hand, Investment Company Of America held roughly 28.88 million shares worth around $1.19 billion, which represents about 3.46% of the total shares outstanding.