Carrier Global Corp (NYSE:CARR) shares, rose in value, with the stock price down by -1.91% to the previous day’s close as strong demand from buyers drove the stock to $55.85.
Actively observing the price movement in the last trading, the stock closed the session at $56.94. The value of beta (5-year monthly) was 1.25 whereas the PE ratio was 35.33 over 12-month period. Referring to stock’s 52-week performance, its high was $60.87, and the low was $40.28. On the whole, CARR has fluctuated by -1.31% over the past month.
With the market capitalization of Carrier Global Corp currently standing at about $50.27 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 23, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 0.74, with its dividend yield at 1.33%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.51, which is expected to increase to $0.89 for fiscal year $2.84 and then to about $3.08 by fiscal year 2025. Data indicates that the EPS growth is expected to be 4.00% in 2025, while the next year’s EPS growth is forecast to be 8.50%.
Analysts have estimated the company’s revenue for the quarter at $6.29 billion, with a low estimate of $5.48 billion and a high estimate of $6.53 billion. According to the average forecast, sales growth in current quarter could jump up 19.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $26.23 billion, representing an increase of 18.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that CARR’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 3.81, with the price of CARR currently trading nearly -3.39% and -0.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.17, while the 7-day volatility ratio is showing 2.12% which for the 30-day chart, stands at 2.40%. Furthermore, Carrier Global Corp (CARR)’s beta value is 1.26, and its average true range (ATR) is 1.32.
A comparison of Carrier Global Corp (CARR) with its peers suggests the former has fared considerably weaker in the market. CARR showed an intraday change of -1.91% in last session, and over the past year, it grew by 22.24%%.
Data on historical trading for Carrier Global Corp (NYSE:CARR) indicates that the trading volumes over the past 10 days have averaged 3.91 million and over the past 3 months, they’ve averaged 4.89 million. According to company’s latest data on outstanding shares, there are 900.10 million shares outstanding.
Nearly 6.67% of Carrier Global Corp’s shares belong to company insiders and institutional investors own 85.65% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 20.36 million shares as on Mar 15, 2024, resulting in a short ratio of 3.14. According to the data, the short interest in Carrier Global Corp (CARR) stood at 2.26% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 22.16 million. The stock has fallen by -2.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CARR stock heading into the next quarter.
