Carrier Global Corporation (NYSE:CARR) to Issue Quarterly Dividend of $0.24
Carrier Global Corporation (NYSE:CARR) announced a quarterly dividend of $0.24 per share, a 6.7% increase from the previous $0.23. The dividend yield is 1.8%, with a payout ratio of 26.0%. The ex-dividend date is January 20th, and payment is on February 9th. The company also authorized a $5 billion stock buyback program, indicating confidence in its undervaluation. Carrier Global's recent earnings beat expectations, with a $0.67 EPS for the quarter.
Carrier Global Corporation (NYSE:CARR - Get Free Report) announced a quarterly dividend on Wednesday, December 3rd. Investors of record on Tuesday, January 20th will be paid a dividend of 0.24 per share on Monday, February 9th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, January 20th. This is a 6.7% increase from Carrier Global's previous quarterly dividend of $0.23.
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Carrier Global has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Carrier Global to earn $3.36 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 26.8%.
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Carrier Global Trading Up 1.3%
NYSE:CARR opened at $54.50 on Thursday. The company has a market capitalization of $45.90 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.33 and a beta of 1.30. The stock's 50 day moving average price is $56.69 and its 200 day moving average price is $65.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. Carrier Global has a 52 week low of $50.30 and a 52 week high of $81.09.
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Carrier Global (NYSE:CARR - Get Free Report) last posted its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company earned $0.83 earnings per share. The business's revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, research analysts forecast that Carrier Global will post 2.99 EPS for the current fiscal year.
Carrier Global declared that its board has authorized a stock repurchase program on Tuesday, October 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.
About Carrier Global
(Get Free Report)- Carrier Stock Looks Undervalued After Earnings Surprise
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.
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