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

Carlisle Companies Trading Down 8.5 %

NYSE CSL traded down $39.08 on Friday, hitting $419.54. 555,573 shares of the stock were exchanged, compared to its average volume of 325,620. The company’s 50-day moving average price is $434.28 and its two-hundred day moving average price is $415.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.89 and a quick ratio of 2.50. Carlisle Companies has a 52-week low of $236.42 and a 52-week high of $481.26. The company has a market capitalization of $19.97 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.52 and a beta of 0.91.

Carlisle Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $1.00 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 0.95%. Carlisle Companies’s dividend payout ratio (DPR) is currently 23.19%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Carlisle Companies

In related news, VP David W. Smith sold 600 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $425.56, for a total transaction of $255,336.00. Following the transaction, the vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

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.