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

Carlisle Companies (NYSE:CSL) posted its quarterly earnings data on Thursday. The conglomerate reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.77 by $0.01, Briefing.com reports. The firm had revenue of $1.33 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.68 EPS. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Price Performance

NYSE CSL traded down $41.42 during trading hours on Friday, reaching $417.20. 754,641 shares of the company’s stock were exchanged, compared to its average volume of 326,631. The firm has a fifty day moving average of $434.55 and a 200-day moving average of $416.05. Carlisle Companies has a one year low of $236.42 and a one year high of $481.26. The stock has a market cap of $19.86 billion, a PE ratio of 24.19, a price-to-earnings-growth 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.

Carlisle Companies Increases Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.85. Carlisle Companies’s payout ratio is 23.19%.

Analysts Set New Price Targets

CSL has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Carlisle Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Robert W. Baird decreased their target price on Carlisle Companies from $506.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Oppenheimer upped their target price on Carlisle Companies from $480.00 to $505.00 and gave the company an “outperform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $475.00.

Insiders Place Their Bets

In other news, VP David W. Smith sold 600 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $425.56, for a total value of $255,336.00. Following the completion of the sale, the vice president now directly owns 2,834 shares in the company, valued at approximately $1,206,037.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.50% of the company’s stock.

About Carlisle Companies

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.