Carlisle Companies (NYSE:CSL) Posts Earnings Results, Beats Estimates By $0.68 EPS

Key Points

• Carlisle Companies reported $7.03 in quarterly EPS, surpassing analyst estimates of $6.35 by $0.68. The company posted a 14.57% net margin and 43.78% return on equity.
• Despite the earnings beat, shares fell 3.8% to $334.67 during Wednesday trading, with the stock remaining below its 50-day and 200-day moving averages.
• Analysts maintain a consensus “Hold” rating, with five Buy and six Hold recommendations and an average price target of $399.29. Institutional investors own 89.52% of the company.

Carlisle Companies (NYSE:CSL - Get Free Report) posted its earnings results on Wednesday. The conglomerate reported $7.03 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.68, FiscalAI reports. Carlisle Companies had a net margin of 14.57% and a return on equity of 43.78%.

Carlisle Companies Stock Down 3.8%

NYSE:CSL traded down $13.05 during trading hours on Wednesday, reaching $334.67. The company's stock had a trading volume of 1,107,246 shares, compared to its average volume of 452,537. The business's 50-day moving average is $347.17 and its 200-day moving average is $356.02. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.38 and a quick ratio of 2.58. Carlisle Companies has a one year low of $293.43 and a one year high of $432.91. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85.

Analyst Upgrades and Downgrades

CSL has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Carlisle Companies in a report on Wednesday, June 24th. Raymond James Financial assumed coverage on Carlisle Companies in a report on Monday, April 27th. They set an "outperform" rating and a $425.00 target price on the stock. Oppenheimer upped their price objective on shares of Carlisle Companies from $420.00 to $425.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Robert W. Baird reduced their target price on Carlisle Companies from $425.00 to $405.00 and set an "outperform" rating for the company in a research note on Monday, July 20th. Finally, Truist Financial lowered their price objective on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Carlisle Companies currently has an average rating of "Hold" and a consensus target price of $399.29.

Institutional Investors Weigh In On Carlisle Companies

Institutional investors have recently added to or reduced their stakes in the stock. Generation Investment Management LLP bought a new position in shares of Carlisle Companies in the fourth quarter worth about $109,217,000. Champlain Investment Partners LLC raised its holdings in shares of Carlisle Companies by 150.8% during the fourth quarter. Champlain Investment Partners LLC now owns 335,065 shares of the conglomerate's stock worth $107,174,000 after acquiring an additional 201,485 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Carlisle Companies by 190.7% in the fourth quarter. Victory Capital Management Inc. now owns 259,275 shares of the conglomerate's stock valued at $82,932,000 after purchasing an additional 170,100 shares in the last quarter. Lazard Asset Management LLC boosted its position in Carlisle Companies by 464.2% during the 2nd quarter. Lazard Asset Management LLC now owns 180,889 shares of the conglomerate's stock worth $67,543,000 after acquiring an additional 148,829 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Carlisle Companies by 6.9% in the 4th quarter. State Street Corp now owns 2,090,341 shares of the conglomerate's stock valued at $668,616,000 after acquiring an additional 134,241 shares in the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

Carlisle Companies Company Profile

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company's operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.

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