In the latest trading session, 0.93 million Carrier Global Corporation (NYSE:CARR) shares changed hands as the company’s beta touched 1.26. With the company’s most recent per share price at $52.99 changed hands at -$1.4 or -2.58% at last look, the market valuation stands at $44.63B. CARR’s current price is a discount, trading about -13.3% off its 52-week high of $60.04. The share price had its 52-week low at $33.10, which suggests the last value was 37.54% up since then. When we look at Carrier Global Corporation’s average trading volume, we note the 10-day average is 4.94 million shares, with the 3-month average coming to 4.93 million.
Analysts gave the Carrier Global Corporation (CARR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 23 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 14 recommended CARR as a Hold, 7 felt it is a Buy and 1 rated the stock as Underweight. Carrier Global Corporation’s EPS for the current quarter is expected to be $0.79.
Carrier Global Corporation (NYSE:CARR) trade information
Instantly CARR was in red as seen in intraday trades today. With action -6.35%, the performance over the past five days has been red. The drop to weekly highs of 56.53 on Monday, 09/18/23 subtracted -2.58% to the stock’s daily price. The company’s shares are showing year-to-date upside of 28.46%, with the 5-day performance at -6.35% in the red. However, in the 30-day time frame, Carrier Global Corporation (NYSE:CARR) is -0.75% down. Looking at the short shares, we see there were 28.3 million shares sold at short interest cover period of 6.44 days.
The consensus price target for the stock as assigned by Wall Street analysts is $59.73, meaning bulls need an upside of 11.28% from its recent market value. According to analyst projections, CARR’s forecast low is $46.00 with $67.00 as the target high. To hit the forecast high, the stock’s price needs a -26.44% plunge from its current level, while the stock would need to tank 13.19% for it to hit the projected low.
Carrier Global Corporation (CARR) estimates and forecasts
Data shows that the Carrier Global Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 17.78% over the past 6 months, a 11.97% in annual growth rate that is considerably higher than the industry average of 7.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Carrier Global Corporation will rise 12.90%, while the growth in revenue is estimated to hit 35.00% for the next quarter. Year-over-year growth is forecast to reach 9.90% up from the last financial year.
Consensus estimates given by 15 financial analysts project the company’s revenue in the current quarter to hit an average of $5.9 billion. 14 analysts are of the opinion that Carrier Global Corporation’s revenue for the quarter ending Dec 2023 will be $5.31 billion. The company’s revenue for the corresponding quarters a year ago was $5.43 billion and $5.11 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.60%. The estimates for the next quarter sales put growth at 4.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 23.70%. The 2023 estimates are for Carrier Global Corporation earnings to increase by 119.60%, but the outlook for the next 5-year period is at 9.11% per year.
Carrier Global Corporation is expected to release its next quarterly earnings report between October 25 and October 30. The 1.40% annual yield figure for the share gives it an annual dividend of 0.74. It is important to note, however, that the 1.40% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Carrier Global Corporation (NYSE:CARR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.11% of Carrier Global Corporation shares while 89.33% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.43%. There are 89.33% institutions holding the Carrier Global Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.25% of the shares, roughly 94.2 million CARR shares worth $4.68 billion.
Capital Research Global Investors holds the second largest percentage of outstanding shares, with 9.93% or 83.18 million shares worth $4.13 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Growth Fund Of America Inc and Investment Company Of America. With 49.94 million shares estimated at $2.48 billion under it, the former controlled 5.96% of total outstanding shares. On the other hand, Investment Company Of America held about 3.64% of the shares, roughly 30.48 million shares worth around $1.52 billion.