In the last trading session, 4.75 million shares of the Carrier Global Corp (NYSE:CARR) were traded, and its beta was 1.25. Most recently the company’s share price was $57.40, and it changed around -$0.73 or -1.26% from the last close, which brings the market valuation of the company to $51.67B. CARR currently trades at a discount to its 52-week high of $60.87, offering almost -6.05% off that amount. The share price’s 52-week low was $40.28, which indicates that the current value has risen by an impressive 29.83% since then. We note from Carrier Global Corp’s average daily trading volume that its 10-day average is 4.03 million shares, with the 3-month average coming to 4.82 million.
Carrier Global Corp stock received a consensus recommendation rating of Underweight, based on a mean score of 2.39. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended CARR as a Hold, whereas 0 deemed it a Buy, and 1 rated it as Underweight. Carrier Global Corp is expected to report earnings per share of $0.51 for the current quarter.
Carrier Global Corp (NYSE:CARR) trade information
Instantly CARR has showed a red trend with a performance of -1.26% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -0.09% year-to-date, but still down -0.80% over the last five days. On the other hand, Carrier Global Corp (NYSE:CARR) is 3.27% up in the 30-day period. We can see from the shorts that 20.36 million shares have been sold at a short interest cover period of 3.14 day(s).
The consensus price target as assigned by Wall Street analysts is $52.65, which translates to bulls needing to decrease their stock price by -9.02% from its current value. Analyst projections state that CARR is forecast to be at a low of $43 and a high of $61.
Carrier Global Corp (CARR) estimates and forecasts
Carrier Global Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 2.61 percent over the past six months and at a 3.30% annual growth rate that is well above the industry average of 1.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -1.90% in revenue this quarter, and will report an increase of 7.60% in the next quarter. The year-over-year growth rate is expected to be 18.80%, up from the previous year.
Consensus estimates provided by 15 financial analysts predict the company will bring in an average of $6.3 billion in revenue for the current quarter. 15 analysts expect Carrier Global Corp to make $7.21 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $5.27 billion and $5.99 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.40%. Forecasts for the next quarter put sales growth at 20.40%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -12.91%. Carrier Global Corp earnings are expected to increase by 3.51% in 2024, but the outlook is positive 9.27% per year for the next five years.
CARR Dividends
Carrier Global Corp’s next quarterly earnings report is expected to be released around April 23 and April 29. The annual dividend yield of the stock is 1.30 percent and its annual dividend per share was 0.75. It is important to note, however, that the 1.30% 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 Corp (NYSE:CARR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 6.64% of Carrier Global Corp shares, and 86.00% of them are in the hands of institutional investors. The stock currently has a share float of 92.11%. Carrier Global Corp stock is held by 1,777 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.25% of the shares, which is about 94.2 million shares worth $4.68 billion.
Capital Research Global Investors, with 9.93% or 83.18 million shares worth $4.13 billion as of Jun 29, 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 Jun 29, 2023. The former held 49.94 million shares worth $2.48 billion, making up 5.96% of all outstanding shares. On the other hand, Investment Company Of America held roughly 30.42 million shares worth around $1.68 billion, which represents about 3.63% of the total shares outstanding.
