Carlisle Companies (NYSE:CSL) Announces Quarterly Earnings Results

Carlisle Companies (NYSE:CSL) released its quarterly earnings data on Wednesday. The conglomerate reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.40, Briefing.com reports. Carlisle Companies had a return on equity of 32.02% and a net margin of 27.88%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company posted $5.18 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Trading Up 4.5 %

Carlisle Companies stock traded up $18.34 during mid-day trading on Friday, hitting $429.01. The stock had a trading volume of 183,885 shares, compared to its average volume of 319,096. The stock has a 50-day simple moving average of $416.49 and a two-hundred day simple moving average of $379.76. The stock has a market capitalization of $20.42 billion, a PE ratio of 23.81, a P/E/G ratio of 1.36 and a beta of 0.90. Carlisle Companies has a 12 month low of $235.79 and a 12 month high of $443.87. The company has a current ratio of 2.95, a quick ratio of 2.61 and a debt-to-equity ratio of 0.66.

Carlisle Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 0.79%. The ex-dividend date was Friday, May 17th. Carlisle Companies’s dividend payout ratio is 19.71%.

Analyst Ratings Changes

Several research firms have issued reports on CSL. Oppenheimer increased their price objective on Carlisle Companies from $412.00 to $430.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Loop Capital increased their target price on Carlisle Companies from $375.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, April 1st. The Goldman Sachs Group initiated coverage on Carlisle Companies in a report on Wednesday, April 3rd. They set a “buy” rating and a $455.00 target price on the stock. Finally, Robert W. Baird increased their target price on Carlisle Companies from $465.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $423.00.

Insider Activity at Carlisle Companies

In related news, CEO D Christian Koch sold 54,927 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $420.06, for a total value of $23,072,635.62. Following the transaction, the chief executive officer now owns 86,652 shares in the company, valued at $36,399,039.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Carlisle Companies news, CAO Stephen Aldrich sold 1,095 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $397.50, for a total value of $435,262.50. Following the transaction, the chief accounting officer now owns 1,624 shares of the company’s stock, valued at $645,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO D Christian Koch sold 54,927 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $420.06, for a total value of $23,072,635.62. Following the completion of the transaction, the chief executive officer now directly owns 86,652 shares in the company, valued at approximately $36,399,039.12. The disclosure for this sale can be found here. Insiders have sold a total of 58,059 shares of company stock worth $24,334,065 over the last 90 days. 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.