Carlisle Companies (NYSE:CSL) Releases Quarterly Earnings Results, Beats Expectations By $0.70 EPS

Carlisle Companies (NYSE:CSLGet Free Report) issued its earnings results on Tuesday. The conglomerate reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.70, Briefing.com reports. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.09 billion. Carlisle Companies had a return on equity of 27.90% and a net margin of 15.07%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.92 earnings per share. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Stock Up 7.7 %

Shares of NYSE:CSL opened at $341.96 on Thursday. The stock has a market cap of $16.65 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.21 and a beta of 0.92. The company has a quick ratio of 3.73, a current ratio of 4.18 and a debt-to-equity ratio of 0.78. Carlisle Companies has a 12-month low of $203.65 and a 12-month high of $350.00. The business’s 50 day moving average is $307.16 and its 200 day moving average is $280.41.

Carlisle Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 16th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.40 annualized dividend and a dividend yield of 0.99%. Carlisle Companies’s payout ratio is 22.31%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. boosted its position in shares of Carlisle Companies by 3.5% during the first quarter. Raymond James Trust N.A. now owns 2,160 shares of the conglomerate’s stock valued at $531,000 after buying an additional 73 shares during the last quarter. First National Bank of Omaha lifted its holdings in Carlisle Companies by 0.9% during the second quarter. First National Bank of Omaha now owns 8,313 shares of the conglomerate’s stock worth $2,133,000 after acquiring an additional 74 shares during the period. State of Wyoming lifted its holdings in Carlisle Companies by 20.8% during the second quarter. State of Wyoming now owns 470 shares of the conglomerate’s stock worth $121,000 after acquiring an additional 81 shares during the period. Creative Planning lifted its holdings in Carlisle Companies by 3.0% during the third quarter. Creative Planning now owns 2,950 shares of the conglomerate’s stock worth $765,000 after acquiring an additional 86 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Carlisle Companies by 6.5% during the first quarter. Moneta Group Investment Advisors LLC now owns 1,890 shares of the conglomerate’s stock worth $427,000 after acquiring an additional 115 shares during the period. Hedge funds and other institutional investors own 90.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSL. Robert W. Baird lifted their target price on Carlisle Companies from $350.00 to $354.00 and gave the stock an “outperform” rating in a report on Wednesday, January 17th. StockNews.com upgraded Carlisle Companies from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Carlisle Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.00.

Get Our Latest Stock Analysis on CSL

Carlisle Companies Company Profile

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Carlisle Companies Incorporated operates as a manufacturer of engineered products in the United States, Europe, Asia, Mexico, the United Kingdom, and internationally. It operates through four segments: Carlisle Construction Materials, Carlisle Weatherproofing Technologies, Carlisle Interconnect Technologies, and Carlisle Fluid Technologies.

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Earnings History for Carlisle Companies (NYSE:CSL)

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