Carlisle Companies (NYSE:CSL) Releases Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Carlisle Companies (NYSE:CSL) issued its quarterly earnings data on Wednesday. The conglomerate reported $6.24 EPS for the quarter, topping the consensus estimate of $5.84 by $0.40, Briefing.com reports. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.45 billion. Carlisle Companies had a return on equity of 32.02% and a net margin of 27.88%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.18 earnings per share. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Stock Performance

Shares of NYSE CSL traded up $18.34 during mid-day trading on Friday, hitting $429.01. The company had a trading volume of 183,885 shares, compared to its average volume of 319,096. The company has a market capitalization of $20.42 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.36 and a beta of 0.90. Carlisle Companies has a 1 year low of $235.79 and a 1 year high of $443.87. The company has a current ratio of 2.95, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $416.49 and its 200-day moving average price is $379.76.

Carlisle Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, May 17th. Carlisle Companies’s dividend payout ratio (DPR) is presently 19.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CSL shares. The Goldman Sachs Group initiated coverage on Carlisle Companies in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $455.00 price objective for the company. Loop Capital increased their price objective on Carlisle Companies from $375.00 to $440.00 and gave the company a “buy” rating in a report on Monday, April 1st. Oppenheimer increased their price objective on Carlisle Companies from $412.00 to $430.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Robert W. Baird increased their price objective on Carlisle Companies from $465.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.00.

Insider Activity

In other news, CAO Stephen Aldrich sold 1,095 shares of Carlisle Companies stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $397.50, for a total value of $435,262.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,624 shares in the company, valued at $645,540. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP David W. Smith sold 2,037 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $405.58, for a total transaction of $826,166.46. Following the completion of the transaction, the vice president now directly owns 2,834 shares in the company, valued at $1,149,413.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Stephen Aldrich sold 1,095 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $397.50, for a total value of $435,262.50. Following the transaction, the chief accounting officer now owns 1,624 shares of the company’s stock, valued at $645,540. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,059 shares of company stock worth $24,334,065. 1.50% of the stock is owned by corporate insiders.

Carlisle Companies Company Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.