Carlisle Companies (NYSE:CSL) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Carlisle Companies beat quarterly expectations, reporting $5.92 in EPS versus the $5.89 consensus and revenue of $1.46 billion versus estimates of $1.42 billion.
• The company increased its quarterly dividend to $1.25 per share from $1.10, implying a $5.00 annual payout and a 1.4% yield.
• Shares fell 0.7% to $346.08 after the results, while analysts maintained a “Moderate Buy” consensus with an average price target of $394.50.

Carlisle Companies (NYSE:CSL - Get Free Report) released its quarterly earnings data on Wednesday. The conglomerate reported $5.92 earnings per share for the quarter, beating the consensus estimate of $5.89 by $0.03, FiscalAI reports. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%.

Carlisle Companies Trading Down 0.7%

Carlisle Companies stock traded down $2.49 during trading hours on Wednesday, hitting $346.08. The stock had a trading volume of 378,963 shares, compared to its average volume of 472,856. The business's 50 day simple moving average is $336.79 and its 200-day simple moving average is $352.33. Carlisle Companies has a one year low of $293.43 and a one year high of $432.91. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 1.09 and a beta of 0.84. The company has a quick ratio of 2.04, a current ratio of 2.60 and a debt-to-equity ratio of 1.78.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were given a $1.25 dividend. This is a boost from Carlisle Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date was Wednesday, August 19th. Carlisle Companies's dividend payout ratio is 28.69%.

Analyst Ratings Changes

A number of research firms have recently commented on CSL. Truist Financial dropped their target price on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a report on Tuesday, July 7th. DA Davidson set a $355.00 price objective on shares of Carlisle Companies in a research report on Friday, October 9th. Weiss Ratings raised shares of Carlisle Companies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Finally, Robert W. Baird dropped their price objective on shares of Carlisle Companies from $412.00 to $402.00 and set an "outperform" rating for the company in a research note on Tuesday, October 13th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $394.50.

About Carlisle Companies

Carlisle Companies Incorporated is a diversified manufacturer focused primarily on products and solutions for the building envelope. Through its construction materials businesses, the company supplies commercial and residential roofing systems, insulation, waterproofing products, air and vapor barriers, and related components designed to improve the energy efficiency, durability, and performance of buildings.

Carlisle's product portfolio includes single-ply roofing membranes, roof coatings, metal roofing systems, polyisocyanurate and expanded polystyrene insulation, sealants, and other building-envelope products.

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