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Carrier Global (CARR) Gains But Lags Market: What You Should Know
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Carrier Global (CARR - Free Report) closed at $52.82 in the latest trading session, marking a +0.57% move from the prior day. The stock lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the company had lost 5.69% over the past month. This has lagged the Computer and Technology sector's loss of 1.01% and the S&P 500's gain of 0.39% in that time.
Investors will be hoping for strength from Carrier Global as it approaches its next earnings release. The company is expected to report EPS of $0.38, up 22.58% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.78 billion, up 4.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.21 per share and revenue of $20.26 billion. These totals would mark changes of +33.13% and +16.06%, respectively, from last year.
Any recent changes to analyst estimates for Carrier Global should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Carrier Global is currently a Zacks Rank #3 (Hold).
In terms of valuation, Carrier Global is currently trading at a Forward P/E ratio of 23.8. Its industry sports an average Forward P/E of 21.98, so we one might conclude that Carrier Global is trading at a premium comparatively.
Meanwhile, CARR's PEG ratio is currently 2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 2 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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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Carrier Global (CARR) Gains But Lags Market: What You Should Know
Carrier Global (CARR - Free Report) closed at $52.82 in the latest trading session, marking a +0.57% move from the prior day. The stock lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the company had lost 5.69% over the past month. This has lagged the Computer and Technology sector's loss of 1.01% and the S&P 500's gain of 0.39% in that time.
Investors will be hoping for strength from Carrier Global as it approaches its next earnings release. The company is expected to report EPS of $0.38, up 22.58% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.78 billion, up 4.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.21 per share and revenue of $20.26 billion. These totals would mark changes of +33.13% and +16.06%, respectively, from last year.
Any recent changes to analyst estimates for Carrier Global should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Carrier Global is currently a Zacks Rank #3 (Hold).
In terms of valuation, Carrier Global is currently trading at a Forward P/E ratio of 23.8. Its industry sports an average Forward P/E of 21.98, so we one might conclude that Carrier Global is trading at a premium comparatively.
Meanwhile, CARR's PEG ratio is currently 2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 2 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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.