Carlisle Companies (NYSE:CSL) Releases Earnings Results, Beats Expectations By $0.01 EPS

Carlisle Companies (NYSE:CSL) announced its quarterly earnings data on Thursday. The conglomerate reported $5.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.77 by $0.01, Briefing.com reports. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.38 billion. Carlisle Companies had a return on equity of 31.65% and a net margin of 27.88%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.68 EPS. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Stock Performance

Shares of NYSE CSL traded down $41.42 during midday trading on Friday, hitting $417.20. The company’s stock had a trading volume of 754,539 shares, compared to its average volume of 326,576. The firm has a market capitalization of $19.86 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a current ratio of 2.89, a quick ratio of 2.50 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $434.28 and a 200 day moving average price of $415.93. Carlisle Companies has a one year low of $236.42 and a one year high of $481.26.

Carlisle Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $1.00 dividend. This is an increase from Carlisle Companies’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.00 annualized dividend and a dividend yield of 0.96%. Carlisle Companies’s dividend payout ratio (DPR) is presently 23.19%.

Analyst Upgrades and Downgrades

CSL has been the subject of several research reports. Robert W. Baird reduced their price target on shares of Carlisle Companies from $506.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday. Oppenheimer raised their price target on shares of Carlisle Companies from $480.00 to $505.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, StockNews.com cut shares of Carlisle Companies from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carlisle Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $475.00.

Insider Buying and Selling at Carlisle Companies

In related news, VP David W. Smith sold 600 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $425.56, for a total transaction of $255,336.00. Following the completion of the transaction, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $1,206,037.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

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.