Carlisle Companies (NYSE:CSL) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Carlisle Companies (NYSE:CSL) announced its quarterly earnings data on Thursday. The conglomerate reported $5.78 earnings per share for the quarter, missing the consensus estimate of $5.82 by ($0.04), Briefing.com reports. The firm had revenue of $1.33 billion for 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%. Carlisle Companies’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.68 EPS. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Price Performance

Shares of NYSE CSL traded down $41.42 during midday trading on Friday, hitting $417.20. 754,641 shares of the company’s stock were exchanged, compared to its average volume of 326,631. 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 cap of $19.86 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.52 and a beta of 0.91. The business’s fifty day moving average price is $434.55 and its two-hundred day moving average price is $416.21.

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 boost 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 was Tuesday, August 20th. Carlisle Companies’s payout ratio is currently 23.19%.

Insider Transactions at Carlisle Companies

In other Carlisle Companies news, VP David W. Smith sold 600 shares of the business’s stock in a transaction that occurred 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 owns 2,834 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

CSL has been the subject of a number of recent research reports. Robert W. Baird dropped their target price on Carlisle Companies from $506.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com cut Carlisle Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Oppenheimer upped their price objective on Carlisle Companies from $480.00 to $505.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $475.00.

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.