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Carrier Global (CARR) Flat As Market Gains: What You Should Know

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Carrier Global (CARR - Free Report) closed at $53.55 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's 1.64% gain on the day. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 0.45%.

Heading into today, shares of the company had lost 4.82% over the past month, lagging the Computer and Technology sector's loss of 3.69% and the S&P 500's loss of 0.83% in that time.

Wall Street will be looking for positivity from Carrier Global as it approaches its next earnings report date. In that report, analysts expect Carrier Global to post earnings of $0.38 per share. This would mark year-over-year growth of 22.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.78 billion, up 4.01% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.21 per share and revenue of $20.26 billion, which would represent changes of +33.13% and +16.06%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Carrier Global. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% lower. Carrier Global currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Carrier Global is currently trading at a Forward P/E ratio of 24.27. This valuation marks a premium compared to its industry's average Forward P/E of 20.05.

It is also worth noting that CARR currently has a PEG ratio of 1.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Miscellaneous Products was holding an average PEG ratio of 1.92 at yesterday's closing price.

The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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