Carlisle Companies (NYSE:CSL) Releases Quarterly Earnings Results, Beats Expectations By $0.98 EPS

Carlisle Companies (NYSE:CSL) announced its quarterly earnings data on Thursday. The conglomerate reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.98, reports. Carlisle Companies had a return on equity of 30.23% and a net margin of 17.13%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $993.06 million. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Stock Performance

NYSE CSL opened at $400.92 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.87 and a debt-to-equity ratio of 0.67. Carlisle Companies has a 52-week low of $205.10 and a 52-week high of $415.00. The business’s 50-day moving average price is $371.87 and its 200 day moving average price is $320.12. The firm has a market cap of $19.16 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.36 and a beta of 0.93.

Carlisle Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Thursday, February 15th. Carlisle Companies’s dividend payout ratio is currently 19.71%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CSL. StockNews.com upgraded Carlisle Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Oppenheimer raised their price target on Carlisle Companies from $412.00 to $430.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird raised their price target on Carlisle Companies from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday. Loop Capital raised their price objective on Carlisle Companies from $375.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, The Goldman Sachs Group started coverage on Carlisle Companies in a report on Wednesday, April 3rd. They set a “buy” rating and a $455.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Carlisle Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.33.

Insider Buying and Selling

In related news, CEO D Christian Koch sold 6,454 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $347.53, for a total transaction of $2,242,958.62. Following the transaction, the chief executive officer now owns 86,652 shares of the company’s stock, valued at $30,114,169.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Carlisle Companies news, CEO D Christian Koch sold 6,454 shares of Carlisle Companies stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $347.53, for a total value of $2,242,958.62. Following the sale, the chief executive officer now owns 86,652 shares of the company’s stock, valued at approximately $30,114,169.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lori A. Snyder sold 8,101 shares of Carlisle Companies stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $339.64, for a total value of $2,751,423.64. Following the completion of the sale, the insider now directly owns 5,212 shares in the company, valued at approximately $1,770,203.68. The disclosure for this sale can be found here. Insiders have sold a total of 15,255 shares of company stock valued at $5,231,360 over the last quarter. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carlisle Companies

Institutional investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. lifted its position in shares of Carlisle Companies by 1.9% during the 1st quarter. YHB Investment Advisors Inc. now owns 18,292 shares of the conglomerate’s stock valued at $7,168,000 after acquiring an additional 342 shares during the period. Mitchell & Pahl Private Wealth LLC acquired a new stake in shares of Carlisle Companies during the 1st quarter valued at approximately $217,000. Pioneer Trust Bank N A OR acquired a new stake in shares of Carlisle Companies during the 1st quarter valued at approximately $235,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Carlisle Companies by 3.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,161 shares of the conglomerate’s stock valued at $5,157,000 after acquiring an additional 463 shares during the period. Finally, Spire Wealth Management lifted its position in shares of Carlisle Companies by 38.4% during the 1st quarter. Spire Wealth Management now owns 1,215 shares of the conglomerate’s stock valued at $476,000 after acquiring an additional 337 shares during the period. Hedge funds and other institutional investors own 89.52% 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.