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Here's Why Investing in Carlisle (CSL) Stock Makes Sense
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Carlisle Companies Incorporated (CSL - Free Report) currently boasts robust prospects on strength across its businesses, solid product portfolio, acquisitions and a sound capital-deployment strategy.
The Zacks Rank #2 (Buy) company has a market capitalization of $12.9 billion. In the past three months, it has gained 3.4% against the industry’s decline of 7.6%.
Image Source: Zacks Investment Research
Let’s delve into the factors that make the company investment-worthy at the moment.
Strength in Business: The company has been gaining from strength in the reroofing market in the United States and higher demand for energy-efficient building products in Europe. Solid momentum in Carlisle’s medical technologies business and recovery in the commercial aerospace business are likely to drive its performance in the quarters ahead. Also, higher industrial capital spending, its focus on product introductions and strength across its newer platforms of Sealants & Adhesives, Foam and Powder are likely to aid. For 2022, it expects revenue to increase in the range of 25-30% on a year-over-year basis.
Acquisition Benefits: Carlisle intends to strengthen and expand its businesses by adding assets. Its acquisition of Henry Company (September 2021) has been enhancing its product offerings for construction activities. The Henry buyout is expected to boost its earnings by $1.50 per share in 2022. Also, its decision to acquire MBTechnology, Inc. (February 2022) is likely to boost its building products platform, expanding its energy-efficient solution offerings. Acquisitions positively contributed 12.9% to revenue growth in the fourth quarter of 2021.
Rewards to Shareholders: It remains committed to rewarding shareholders through share repurchases and dividend payouts. In 2021, CSL paid out dividends worth $112.5 million and repurchased shares worth $315.6 million. Also, the quarterly dividend rate was hiked by 3% in August 2021. Exiting 2021, the company had $5.1 million worth of shares left under its share repurchase authorization.
Estimate Revisions: In the past 30 days, the Zacks Consensus Estimate for Carlisle’s 2022 earnings has trended up from $14.29 to $14.39 on one upward estimate revision against none downward. Over the same timeframe, the consensus estimate for 2023 earnings has jumped from $16.08 to $16.15 on one upward estimate revision versus none downward.
Other Stocks to Consider
Some other top-ranked companies are discussed below.
Griffon’s earnings estimates increased 9% for fiscal 2022 (ending September 2022) in the past 30 days. GFF’s shares have lost 24% in the past three months.
Franklin Electric Co., Inc. (FELE - Free Report) presently has a Zacks Rank #2. Its earnings surprise in the last four quarters was 17.4%, on average.
In the past 30 days, Franklin Electric’s earnings estimates have been raised 10.9% for 2022. FELE’s shares have lost 7.1% in the past three months.
Ferguson plc (FERG - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last reported quarter was 11.6%.
Ferguson’s earnings estimates increased 4.1% for fiscal 2022 (ending July 2022) in the past 30 days. FERG’s shares have lost 15.3% in the past three months.
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Here's Why Investing in Carlisle (CSL) Stock Makes Sense
Carlisle Companies Incorporated (CSL - Free Report) currently boasts robust prospects on strength across its businesses, solid product portfolio, acquisitions and a sound capital-deployment strategy.
The Zacks Rank #2 (Buy) company has a market capitalization of $12.9 billion. In the past three months, it has gained 3.4% against the industry’s decline of 7.6%.
Image Source: Zacks Investment Research
Let’s delve into the factors that make the company investment-worthy at the moment.
Strength in Business: The company has been gaining from strength in the reroofing market in the United States and higher demand for energy-efficient building products in Europe. Solid momentum in Carlisle’s medical technologies business and recovery in the commercial aerospace business are likely to drive its performance in the quarters ahead. Also, higher industrial capital spending, its focus on product introductions and strength across its newer platforms of Sealants & Adhesives, Foam and Powder are likely to aid. For 2022, it expects revenue to increase in the range of 25-30% on a year-over-year basis.
Acquisition Benefits: Carlisle intends to strengthen and expand its businesses by adding assets. Its acquisition of Henry Company (September 2021) has been enhancing its product offerings for construction activities. The Henry buyout is expected to boost its earnings by $1.50 per share in 2022. Also, its decision to acquire MBTechnology, Inc. (February 2022) is likely to boost its building products platform, expanding its energy-efficient solution offerings. Acquisitions positively contributed 12.9% to revenue growth in the fourth quarter of 2021.
Rewards to Shareholders: It remains committed to rewarding shareholders through share repurchases and dividend payouts. In 2021, CSL paid out dividends worth $112.5 million and repurchased shares worth $315.6 million. Also, the quarterly dividend rate was hiked by 3% in August 2021. Exiting 2021, the company had $5.1 million worth of shares left under its share repurchase authorization.
Estimate Revisions: In the past 30 days, the Zacks Consensus Estimate for Carlisle’s 2022 earnings has trended up from $14.29 to $14.39 on one upward estimate revision against none downward. Over the same timeframe, the consensus estimate for 2023 earnings has jumped from $16.08 to $16.15 on one upward estimate revision versus none downward.
Other Stocks to Consider
Some other top-ranked companies are discussed below.
Griffon Corporation (GFF - Free Report) presently sports a Zacks Rank #1 (Strong Buy). It delivered a four-quarter earnings surprise of 56.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Griffon’s earnings estimates increased 9% for fiscal 2022 (ending September 2022) in the past 30 days. GFF’s shares have lost 24% in the past three months.
Franklin Electric Co., Inc. (FELE - Free Report) presently has a Zacks Rank #2. Its earnings surprise in the last four quarters was 17.4%, on average.
In the past 30 days, Franklin Electric’s earnings estimates have been raised 10.9% for 2022. FELE’s shares have lost 7.1% in the past three months.
Ferguson plc (FERG - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last reported quarter was 11.6%.
Ferguson’s earnings estimates increased 4.1% for fiscal 2022 (ending July 2022) in the past 30 days. FERG’s shares have lost 15.3% in the past three months.