Here's Why Carrier Global (CARR) is a Strong Growth Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
Carrier Global (CARR)
Palm Beach Gardens, FL-based Carrier Global is a provider of advanced heating, ventilation, refrigeration, air conditioning, fire, security and building automation technologies. The company completed its Initial Public Offering (“IPO”) in April 2020.
CARR sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of A. Earnings and sales are forecasted to increase 14.5% and 8.9% year-over-year, respectively.
Six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.06 to $2.68 per share for 2023. CARR boasts an average earnings surprise of 6%.
On a historic basis, Carrier Global has generated cash flow growth of 7.9%, and is expected to report cash flow expansion of 2.1% this year.
Investors should take the time to consider CARR for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
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Carrier Global Corporation (CARR) : Free Stock Analysis Report
