Carlisle Companies (NYSE:CSL) Posts Earnings Results, Beats Estimates By $0.01 EPS

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

Carlisle Companies Stock Down 9.0 %

Shares of CSL traded down $41.42 during trading hours on Friday, reaching $417.20. The stock had a trading volume of 754,539 shares, compared to its average volume of 326,576. The firm has a 50-day simple moving average of $434.28 and a 200 day simple moving average of $415.93. Carlisle Companies has a 12 month low of $236.42 and a 12 month high of $481.26. 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 company 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.

Carlisle Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $1.00 per share. This is an increase from Carlisle Companies’s previous quarterly dividend of $0.85. This represents a $4.00 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Tuesday, August 20th. Carlisle Companies’s dividend payout ratio is 23.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of Carlisle Companies from $480.00 to $505.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com downgraded Carlisle Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Robert W. Baird decreased their target price on Carlisle Companies from $506.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $475.00.

Insider Buying and Selling at Carlisle Companies

In related news, VP David W. Smith sold 600 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $425.56, for a total value of $255,336.00. Following the sale, the vice president now owns 2,834 shares in the company, valued at $1,206,037.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company 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.