Oppenheimer Brokers Reduce Earnings Estimates for Carlisle Companies Incorporated (NYSE:CSL)

Posted by Defense World Staff on Apr 26th, 2023

Carlisle Companies Incorporated (NYSE:CSL – Get Rating) – Research analysts at Oppenheimer reduced their Q1 2023 earnings per share (EPS) estimates for Carlisle Companies in a report issued on Sunday, April 23rd. Oppenheimer analyst B. Blair now anticipates that the conglomerate will post earnings per share of $2.70 for the quarter, down from their previous estimate of $2.92. Oppenheimer has a “Outperform” rating and a $345.00 price objective on the stock. The consensus estimate for Carlisle Companies’ current full-year earnings is $20.81 per share. Oppenheimer also issued estimates for Carlisle Companies’ Q3 2023 earnings at $6.47 EPS, Q4 2023 earnings at $4.97 EPS and FY2023 earnings at $20.00 EPS.

Carlisle Companies (NYSE:CSL – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The conglomerate reported $3.92 EPS for the quarter, beating the consensus estimate of $3.86 by $0.06. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Carlisle Companies had a return on equity of 36.27% and a net margin of 14.02%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.92 earnings per share.

CSL has been the subject of several other research reports. StockNews.com lowered Carlisle Companies from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Credit Suisse Group lowered their price target on Carlisle Companies from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Tuesday, April 11th. Robert W. Baird lowered their price target on Carlisle Companies from $320.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, April 14th. Wells Fargo & Company lifted their price target on Carlisle Companies from $315.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Finally, BMO Capital Markets lowered their price target on Carlisle Companies from $355.00 to $335.00 and set an “outperform” rating for the company in a research report on Tuesday, March 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.00.

Carlisle Companies Price Performance

CSL opened at $213.59 on Tuesday. The stock has a 50-day moving average price of $232.90 and a 200-day moving average price of $244.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.08 and a quick ratio of 1.39. The firm has a market cap of $10.91 billion, a PE ratio of 12.17, a P/E/G ratio of 0.62 and a beta of 0.92. Carlisle Companies has a 1 year low of $203.65 and a 1 year high of $318.71.

Carlisle Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 17th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $3.00 annualized dividend and a yield of 1.40%. Carlisle Companies’s payout ratio is 17.09%.

Insider Buying and Selling

In other Carlisle Companies news, CFO Kevin P. Zdimal sold 8,111 shares of the business’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $253.35, for a total transaction of $2,054,921.85. Following the completion of the sale, the chief financial officer now directly owns 30,515 shares in the company, valued at approximately $7,730,975.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carlisle Companies

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Carlisle Companies by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,315,205 shares of the conglomerate’s stock valued at $1,490,437,000 after purchasing an additional 100,442 shares during the period. BlackRock Inc. lifted its position in shares of Carlisle Companies by 8.3% during the 3rd quarter. BlackRock Inc. now owns 4,760,680 shares of the conglomerate’s stock valued at $1,334,940,000 after buying an additional 363,372 shares in the last quarter. Morgan Stanley lifted its position in shares of Carlisle Companies by 323.0% during the 4th quarter. Morgan Stanley now owns 2,200,538 shares of the conglomerate’s stock valued at $518,557,000 after buying an additional 1,680,274 shares in the last quarter. State Street Corp lifted its position in shares of Carlisle Companies by 8.8% during the 3rd quarter. State Street Corp now owns 2,079,548 shares of the conglomerate’s stock valued at $583,126,000 after buying an additional 167,704 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Carlisle Companies by 106,294.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,064,044 shares of the conglomerate’s stock valued at $486,392,000 after buying an additional 2,062,104 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Carlisle Companies Company Profile

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Carlisle Cos., Inc engages in the design, manufacture, and distribution of building envelope products and energy solutions. It operates through the following segments: Carlisle Construction Materials (CCM), Carlisle Weatherproofing Technologies (CWT), Carlisle Interconnect Technologies (CIT), and Carlisle Fluid Technologies (CFT).