Carlisle Companies (NYSE:CSL) Issues Earnings Results, Misses Expectations By $0.40 EPS

Key Points

• Carlisle Companies reported quarterly earnings of $6.27 per share, missing analyst expectations by $0.40, while also experiencing a slight decline in revenue to $1.45 billion compared to the previous year.
• The company's stock fell by 0.6% to $352.70 following the earnings report, with average trading volume at 190,667 shares.
• Analyst ratings for Carlisle Companies show mixed sentiment, with half rating it a "hold" and the other half "buy," and an average price target set at $450.83.

Carlisle Companies (NYSE:CSL - Get Free Report) released its quarterly earnings data on Wednesday. The conglomerate reported $6.27 earnings per share for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40), Zacks reports. Carlisle Companies had a return on equity of 36.83% and a net margin of 16.12%. The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the company earned $6.24 earnings per share. The firm's revenue was down .1% compared to the same quarter last year.

Carlisle Companies Stock Down 0.6%

Carlisle Companies stock traded down $2.01 during trading hours on Friday, reaching $352.70. The stock had a trading volume of 190,667 shares, compared to its average volume of 457,605. Carlisle Companies has a 52 week low of $311.41 and a 52 week high of $481.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.58 and a quick ratio of 1.69. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.23 and a beta of 1.03. The business's 50 day moving average price is $389.19 and its 200-day moving average price is $371.29.

Analyst Ratings Changes

A number of analysts recently weighed in on CSL shares. Zelman & Associates raised shares of Carlisle Companies from an "underperform" rating to a "neutral" rating in a research note on Monday, April 14th. Truist Financial lowered their price objective on shares of Carlisle Companies from $420.00 to $390.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. started coverage on shares of Carlisle Companies in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price objective for the company. Robert W. Baird upped their price objective on shares of Carlisle Companies from $455.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of Carlisle Companies from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Carlisle Companies currently has an average rating of "Moderate Buy" and an average price target of $450.83.

Hedge Funds Weigh In On Carlisle Companies

A hedge fund recently raised its stake in Carlisle Companies stock. Goldman Sachs Group Inc. grew its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,468 shares of the conglomerate's stock after acquiring an additional 28,414 shares during the quarter. Goldman Sachs Group Inc. owned about 0.24% of Carlisle Companies worth $35,912,000 as of its most recent SEC filing. Institutional investors and hedge funds own 89.52% 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.

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