Yahoo Finance Carrier (CARR) Boosts Fire & Security Unit With Latest Move
Carrier’s CARR Supra has integrated scheduling and lockbox access to its showing management tool, which is backed by BrokerBay.
The new functionality allows real estate agents to access Supra iBox lockboxes directly from the scheduling mobile app, providing a seamless property access experience.
The combined functionality is available for real estate agents with a Supra eKEY app subscription that also uses Supra's showing management tool.
Moreover, Supra and BrokerBay are integrating their technologies to offer a streamlined experience for real estate professionals.
We believe the latest innovation is expected to aid Supra in gaining traction among new customers and sustain the existing ones. This in turn is expected to contribute to the top-line growth of Carrier.
Carrier Global Corporation Price and Consensus
Carrier Global Corporation price-consensus-chart | Carrier Global Corporation Quote
Strength in Fire & Security Segment
The latest move bodes well for Carrier’s growing endeavors toward bolstering its Fire and Security segment offering.
Recently, Kidde introduced new smart detection products and devices that provide instant notifications for a range of home safety threats, including smoke, carbon monoxide, water leaks, frozen pipes and indoor air quality issues.
Another Fire and Security brand, Onity, signed a reseller agreement with Weston Security Systems to offer Passport Locking Solution in Canada. As part of the agreement, Weston Security Systems will integrate the new Passport smart lock into its range of security solutions for self-storage facilities.
Further, Onity partnered with Comcast’s MachineQ to roll out a cloud-based smart lock solution by integrating its Passport Locking Solution with the latter’s IoT connectivity solution.
Additionally, LenelS2 rolled out an advanced version of its browser-based access control and event monitoring system called NetBox version 5.6.
We believe all these endeavors are likely to aid the performance of the Fire and Security segment in the near term.
In the first quarter of 2023, the segment generated $869 million in revenues, which accounted for 16.5% of the net sales. The figure was up 6% year over year.
We note that the growth prospects of the underlined segment are likely to benefit the overall performance of Carrier. This is likely to instill investors’ optimism in the stock in the days ahead.
The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $5.75 billion, indicating growth of 10.3% from the year-ago reported figure.
CARR has gained 12.3% in the past year against the industry’s decline of 4%.
Zacks Rank & Stocks to Consider
Currently, Carrier carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies A, DigitalOcean DOCN and AMETEK AME. While Arista Networks and Salesforce each sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Agilent Technologies shares have risen 9.2% in the past year. The Zacks Consensus Estimate for A’s second-quarter fiscal 2023 earnings is pegged at $1.27 per share, suggesting an increase of 12.4% from the prior-year quarter’s reported figure.
DigitalOcean shares have risen 2.2% in the past year. The Zacks Consensus Estimate for DOCN’s second-quarter earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
AMETEK shares have rallied 19.5% in the past year. The Zacks Consensus Estimate for AME’s second-quarter earnings is pegged at $1.50 per share, suggesting an increase of 8.7% from the prior-year quarter’s reported figure.
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