Oppenheimer Comments on Carlisle Companies, Inc.’s Q1 2019 Earnings (CSL)
Carlisle Companies, Inc. (NYSE:CSL) – Analysts at Oppenheimer reduced their Q1 2019 earnings estimates for shares of Carlisle Companies in a research report issued to clients and investors on Thursday, April 4th. Oppenheimer analyst B. Blair now anticipates that the conglomerate will post earnings of $1.12 per share for the quarter, down from their previous estimate of $1.14. Oppenheimer has a “Outperform” rating and a $140.00 price target on the stock. Oppenheimer also issued estimates for Carlisle Companies’ Q3 2019 earnings at $2.20 EPS and Q4 2019 earnings at $1.83 EPS.
A number of other brokerages have also recently weighed in on CSL. BMO Capital Markets raised their target price on shares of Carlisle Companies from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Tuesday, February 19th. SunTrust Banks reaffirmed a “buy” rating and issued a $138.00 price target on shares of Carlisle Companies in a report on Sunday, February 10th. Robert W. Baird set a $134.00 price objective on Carlisle Companies and gave the company a “buy” rating in a research report on Friday, February 8th. Zacks Investment Research raised Carlisle Companies from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Monday, December 31st. Finally, CIBC upgraded Carlisle Companies from a “market perform” rating to an “outperform” rating in a report on Monday, December 17th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $127.57.
Carlisle Companies (NYSE:CSL) last posted its quarterly earnings data on Thursday, February 7th. The conglomerate reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.28. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Carlisle Companies had a net margin of 13.59% and a return on equity of 14.14%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS.
Carlisle Companies declared that its board has authorized a stock buyback plan on Tuesday, February 5th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO D Christian Koch sold 30,255 shares of Carlisle Companies stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $120.08, for a total value of $3,633,020.40. Following the transaction, the chief executive officer now directly owns 141,651 shares of the company’s stock, valued at $17,009,452.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John E. Berlin sold 15,150 shares of Carlisle Companies stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.24, for a total transaction of $1,882,236.00. Following the completion of the transaction, the insider now directly owns 47,221 shares in the company, valued at $5,866,737.04. The disclosure for this sale can be found here. Insiders have sold 69,865 shares of company stock valued at $8,452,327 over the last ninety days. Insiders own 1.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Harris Associates L P boosted its position in shares of Carlisle Companies by 60.3% in the fourth quarter. Harris Associates L P now owns 1,244,010 shares of the conglomerate’s stock worth $125,048,000 after buying an additional 468,140 shares during the period. Brown Advisory Inc. lifted its stake in Carlisle Companies by 43.4% in the 4th quarter. Brown Advisory Inc. now owns 5,938 shares of the conglomerate’s stock worth $597,000 after acquiring an additional 1,797 shares in the last quarter. Jefferies Group LLC boosted its position in Carlisle Companies by 63.1% during the 3rd quarter. Jefferies Group LLC now owns 16,916 shares of the conglomerate’s stock worth $2,060,000 after acquiring an additional 6,546 shares during the period. Texas Permanent School Fund boosted its position in Carlisle Companies by 3.7% during the 4th quarter. Texas Permanent School Fund now owns 38,966 shares of the conglomerate’s stock worth $3,917,000 after acquiring an additional 1,379 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in Carlisle Companies by 7.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 65,227 shares of the conglomerate’s stock worth $6,557,000 after acquiring an additional 4,699 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.
About Carlisle Companies
Carlisle Companies Incorporated operates as a diversified manufacturing company. It operates through four segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, and Carlisle Brake & Friction. The Carlisle Construction Materials segment offers thermoplastic polyolefin, ethylene propylene diene monomer rubber, and polyvinyl chloride roofing membranes that are used on non-residential low-sloped roofs; roofing accessories, such as flashings, fasteners, sealing tapes, coatings, and waterproofing products; rigid foam insulation panels for roofing applications; and specialty polyurethane products and solutions for various markets and applications.
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