Carlisle Companies (NYSE:CSL) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Carlisle shares rose above their 200-day moving average, reaching as high as $371.75 after the company reported third-quarter revenue of about $1.5 billion and record adjusted EPS of $5.92, both slightly ahead of analyst expectations.
• Management maintained a constructive fourth-quarter outlook, anticipating high-single-digit revenue growth, while healthy reroofing demand and pricing actions are expected to offset higher raw-material and freight costs.
• Shareholder returns strengthened as Carlisle raised its quarterly dividend 14% to $1.25, marking its 50th consecutive annual increase; analysts remain moderately bullish, with a consensus target price of $395.83.

Shares of Carlisle Companies Incorporated (NYSE:CSL - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $352.44 and traded as high as $371.75. Carlisle Companies shares last traded at $370.1410, with a volume of 690,367 shares changing hands.

Key Carlisle Companies News

Here are the key news stories impacting Carlisle Companies this week:

• Positive Sentiment: Third-quarter results exceeded expectations. Revenue reached approximately $1.5 billion, up 9% year over year and above the roughly $1.42 billion consensus estimate. Adjusted EPS was a record $5.92, compared with $5.61 a year earlier and slightly ahead of consensus. Reported diluted EPS was $5.22. Carlisle Companies Reports Third Quarter Results
• Positive Sentiment: Management maintained a constructive fourth-quarter outlook. Carlisle expects high-single-digit revenue growth, while pricing actions are expected to help offset elevated raw-material and freight costs. Healthy reroofing demand supported the roofing-focused CCM segment. Carlisle shares jump after third-quarter beat and solid fourth-quarter outlook
• Positive Sentiment: The dividend increase reinforced Carlisle’s shareholder-return profile. The company raised its quarterly dividend by 14%, marking its 50th consecutive annual increase. Carlisle Companies Reports Third Quarter Results
• Neutral Sentiment: Institutional positioning was mixed. Recent filings showed 328 institutional investors adding CSL shares and 403 reducing positions, suggesting varied views among large investors rather than a uniformly bullish signal.
• Negative Sentiment: Profitability remains under pressure. Although adjusted earnings reached a record, reported materials indicate the quarterly margin declined by roughly 210 basis points, and management expects the fourth-quarter adjusted EBITDA margin to be flat year over year. This limits the upside from revenue growth.

Analyst Ratings Changes

Several research firms have commented on CSL. Truist Financial dropped their price target on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a research note on Tuesday, July 7th. Robert W. Baird set a $410.00 target price on Carlisle Companies in a report on Thursday. Weiss Ratings upgraded Carlisle Companies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Finally, DA Davidson set a $355.00 target price on Carlisle Companies in a research note on Friday, October 9th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Carlisle Companies currently has an average rating of "Moderate Buy" and a consensus target price of $395.83.

Carlisle Companies Stock Performance

The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.09 and a beta of 0.84. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04. The stock has a 50 day simple moving average of $336.66 and a two-hundred day simple moving average of $352.44.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The conglomerate reported $5.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.89 by $0.03. The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.42 billion. Carlisle Companies had a return on equity of 49.35% and a net margin of 13.78%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.61 EPS. As a group, analysts anticipate that Carlisle Companies Incorporated will post 21.16 earnings per share for the current year.

Carlisle Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were paid a $1.25 dividend. This is an increase 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 payout ratio is currently 28.69%.

Institutional Trading of Carlisle Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSL. Versant Capital Management Inc lifted its holdings in shares of Carlisle Companies by 71.7% in the 3rd quarter. Versant Capital Management Inc now owns 91 shares of the conglomerate's stock valued at $29,000 after purchasing an additional 38 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Carlisle Companies during the 3rd quarter worth approximately $29,000. Jones Financial Companies Lllp purchased a new position in Carlisle Companies during the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. purchased a new position in Carlisle Companies during the 2nd quarter worth approximately $35,000. Finally, Signature Equity Partners LLC grew its stake in Carlisle Companies by 3,133.3% during the 1st quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock worth $32,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 89.52% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.