Carlisle Companies (NYSE:CSL) Issues Earnings Results

Carlisle Companies (NYSE:CSL) announced its earnings results 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. Carlisle Companies had a return on equity of 31.65% and a net margin of 27.88%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm earned $4.68 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Stock Performance

CSL stock traded down $39.08 during midday trading on Friday, reaching $419.54. The company had a trading volume of 555,573 shares, compared to its average volume of 325,620. The company has a quick ratio of 2.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $434.28 and a 200 day moving average price of $415.93. The firm has a market capitalization of $19.97 billion, a PE ratio of 24.06, a P/E/G ratio of 1.52 and a beta of 0.91. Carlisle Companies has a fifty-two week low of $236.42 and a fifty-two week high of $481.26.

Carlisle Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.00 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.00 dividend on an annualized basis and a yield of 0.95%. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.85. Carlisle Companies’s dividend payout ratio (DPR) is currently 23.19%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, VP David W. Smith sold 600 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $425.56, for a total transaction of $255,336.00. Following the completion of the transaction, the vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

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.