Jefferies Financial Group analysts cut earnings estimates for Carlisle Companies Incorporated (NYSE: CSL)
Carlisle Companies Incorporated (NYSE: CSL) – Equity researchers at Jefferies Financial Group lowered their second quarter 2022 EPS estimates for Carlisle Companies in a research report released to clients and investors on Wednesday, June 30. Jefferies Financial Group analyst S. Boroditsky now expects the conglomerate to earn $ 2.67 per share for the quarter, down from its previous estimate of $ 2.87. Jefferies Financial Group also released estimates for Carlisle Companies’ second quarter 2023 earnings at $ 2.95 per share. Carlisle Companies (NYSE: CSL) last released its quarterly results on Wednesday, April 21. The conglomerate reported earnings per share of $ 1.47 for the quarter, beating the consensus estimate of $ 0.69 by Thomson Reuters by $ 0.78. The company posted revenue of $ 1.03 billion in the quarter, against analysts’ expectations of $ 970.33 million. Carlisle Companies had a net margin of 7.32% and a return on equity of 14.26%. The company’s quarterly revenue increased 0.0% from the same quarter last year. In the same quarter of the previous year, the company achieved earnings per share of $ 1.09.
The CSL has been the subject of several other research reports. Zacks investment research reduce the shares of Carlisle Companies from a “keep” rating to a “sell” rating and set a target price of $ 199.00 for the company. in a report Monday. Longbow Research reiterated a “neutral” rating on shares of Carlisle Companies in a research note on Monday, April 19. Loop Capital raised its price target for shares of the Carlisle Companies from $ 184.00 to $ 205 and assigned the company a “buy” rating in a research note on Monday April 26. Northcoast Research downgraded shares of Carlisle Companies from a “neutral” rating to a “buy” rating and set a price target of $ 230.00 for the company in a research note on Wednesday. Finally, BMO Capital Markets reiterated a “buy” note on shares of Carlisle Companies in a research note Monday. One stock research analyst rated the stock with a sell rating, another assigned a conservation rating, and five assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $ 197.71.
Actions of CSL opened at $ 191.94 on Friday. Carlisle Companies has a 12-month low of $ 111.79 and a 12-month high of $ 197.21. The fifty-day simple moving average for the stock is $ 190.26. The company has a market cap of $ 10.02 billion, a PE ratio of 33.73, a price / earnings-growth ratio of 1.40, and a beta of 1.03. The company has a leverage ratio of 0.86, a current ratio of 3.25, and a quick ratio of 2.45.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1. Shareholders of record on Monday, May 17 received a dividend of $ 0.525. This represents an annualized dividend of $ 2.10 and a dividend yield of 1.09%. The ex-dividend date was Friday May 14. The Carlisle Companies payout ratio is currently 33.23%.
In addition, CFO Robert M. Roche sold 12,680 shares in a transaction dated Wednesday, May 26. The shares were sold for an average price of $ 192.13, for a total value of $ 2,436,208.40. As a result of the transaction, the CFO now directly owns 25,487 shares of the company, valued at $ 4,896,817.31. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available through the SEC website. 1.68% of the shares are held by insiders.
Several institutional investors and hedge funds have recently changed their holdings in the company. Norges Bank bought a new position in Carlisle Companies during the fourth quarter worth approximately $ 82,398,000. Caisse DE Dépôt ET Placement DU Québec increased its position in Carlisle Companies by 27.3% during the fourth quarter. Caisse DE Dépôt ET Placement DU Québec now holds 1,778,430 shares of the conglomerate valued at $ 277,755,000 after acquiring 381,279 additional shares during the period. JPMorgan Chase & Co. increased its position in Carlisle Companies by 8.1% during the fourth quarter. JPMorgan Chase & Co. now owns 3,699,859 shares of the conglomerate valued at $ 577,845,000 after acquiring an additional 277,059 shares during the period. Bank of Montreal Can increased its position in Carlisle Companies by 36.1% during the first quarter. Bank of Montreal Can now owns 865,342 shares of the conglomerate valued at $ 146,908,000 after acquiring an additional 229,330 shares during the period. Finally, BlackRock Inc. increased its position in Carlisle Companies by 3.7% during the first quarter. BlackRock Inc. now owns 4,624,404 shares of the conglomerate valued at $ 761,086,000 after acquiring 165,004 additional shares during the period. 91.45% of the shares are currently held by institutional investors.
About Carlisle Companies
Carlisle Companies Incorporated operates as a diverse manufacturer of engineered products in the United States, Europe, Asia, Canada, Mexico, the Middle East, Africa and internationally. It operates through four segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies and Carlisle Brake & Friction.
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