Last Updated: 07 Nov 2024
Executive Summary
Carrier Global Corp. (CARR) is a leading provider of HVAC, refrigeration, and fire and security solutions. The company has a strong track record of financial performance, with consistent revenue and earnings growth. CARR's stock price has outperformed the broader market in recent years, and analysts are generally positive on the company's long-term prospects.
Company Overview
Carrier Global Corp. is a global provider of HVAC, refrigeration, and fire and security solutions. The company operates in two segments: Residential and Commercial. The Residential segment provides products and services for residential customers, including air conditioners, heat pumps, furnaces, and water heaters. The Commercial segment provides products and services for commercial customers, including chillers, rooftop units, and fire and security systems.
Carrier Global Corp. is headquartered in Palm Beach Gardens, Florida. The company has operations in over 170 countries and employs over 50,000 people.
Fundamental Analysis
Carrier Global Corp.'s financial performance has been strong in recent years. The company has reported consistent revenue and earnings growth, and its profit margins have been expanding. In 2023, CARR reported revenue of $24.8 billion and net income of $3.3 billion. The company's diluted EPS was $1.74.
CARR's financial strength is reflected in its balance sheet. The company has a strong cash position and low levels of debt. CARR's return on equity is 13.9%, and its return on assets is 4.18%.
Technical Analysis
Carrier Global Corp.'s stock price has outperformed the broader market in recent years. The stock has been trading in a range between $49.71 and $83.1 over the past 52 weeks. The stock's 50-day moving average is $76.88, and its 200-day moving average is $64.94.
CARR's stock is currently trading at $75.38. The stock is above its 50-day moving average but below its 200-day moving average. The stock's relative strength index (RSI) is 56.5, which indicates that the stock is neither overbought nor oversold.
Short Term Outlook
Carrier Global Corp.'s stock is likely to continue to trade in a range in the short term. The stock is facing resistance at its 200-day moving average, and it is likely to need a catalyst to break out of its current range.
Long Term Outlook
Carrier Global Corp.'s long-term outlook is positive. The company is a leader in its industry, and it has a strong track record of financial performance. The company's products and services are in high demand, and its global reach gives it a competitive advantage.
Analyst Recommendations
Analysts are generally positive on Carrier Global Corp.'s long-term prospects. The consensus analyst rating on the stock is "Buy." The average analyst target price on the stock is $81.43.
