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Here's Why You Should Consider Investing in CSL Right Now
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Carlisle Companies Incorporated (CSL - Free Report) is well poised for growth, courtesy of strength across its diversified businesses, sound capital-deployment strategy, acquisitions and growth investments.
Image Source: Zacks Investment Research
This currently Zacks Rank #1 (Strong Buy) player has a market capitalization of $13.6 billion. In the past three months, CSL has gained 16.7% against the industry’s decline of 8.8%.
Let’s delve into the factors that make investments in the stock a smart choice at the moment.
Business Strength: Carlisle has been benefiting from its diversified business operations, which allow it to mitigate risks across one end market with strength across others. In the quarters ahead, CSL is expected to benefit from strength in its reroofing market in the United States and growth on the architectural metals platform. Recovery in the commercial aerospace business in the United States coupled with strength in the medical technologies business with a solid backlog level will likely aid its performance in the quarters ahead. Carlisle’s revenues are expected to grow more than 30% in 2022.
Benefits From Acquisitions: Carlisle intends to strengthen and expand its businesses through acquisitions. CSL’s buyout of Henry Company (September 2021) is steadily boosting its CCM segment’s construction activities. This buyout is expected to positively impact its 2022 earnings by $1.50 per share. In February 2022, CSL acquired MBTechnology, Inc, which has been strengthening CSL’s energy-efficient solution offerings for a while. It is worth noting that the purchases boosted revenue growth by 14.7% in the first quarter of 2022.
Rewards to Shareholders: CSL remains committed to rewarding its shareholders through dividend payouts. Carlisle paid out dividends worth $28.7 million and repurchased shares worth $125 million in the first three months of 2022. CSL also hiked the dividend rate 3% to 54 cents in August 2021. Exiting first-quarter 2022, CSL had 4.5 million shares under its authorization for repurchase.
Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for its 2022 earnings has moved up from $14.39 to $15.94 on one upward estimate revision against none downward. Further, the consensus estimate for 2023 earnings has increased from $16.15 to $17.73 on one upward estimate revision versus none downward.
In the past 60 days, earnings estimates for GFF have increased 40% for fiscal 2022 (ending September 2022). The stock has inched up 6.2% in the past three months.
Roper Technologies, Inc. (ROP - Free Report) presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 2%, on average.
In the past 60 days, ROP’s earnings estimates have increased 1.1% for 2022. The stock has declined 1.9% in the past three months.
Ferguson plc (FERG - Free Report) is presently Zacks #2 Ranked. FERG’s earnings surprise in the last four quarters was 14.2%, on average.
In the past 60 days, the stock’s earnings estimates have increased 6.5% for fiscal 2022 (ending July 2022). The same has declined 25.9% in the past three months.
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Here's Why You Should Consider Investing in CSL Right Now
Carlisle Companies Incorporated (CSL - Free Report) is well poised for growth, courtesy of strength across its diversified businesses, sound capital-deployment strategy, acquisitions and growth investments.
Image Source: Zacks Investment Research
This currently Zacks Rank #1 (Strong Buy) player has a market capitalization of $13.6 billion. In the past three months, CSL has gained 16.7% against the industry’s decline of 8.8%.
Let’s delve into the factors that make investments in the stock a smart choice at the moment.
Business Strength: Carlisle has been benefiting from its diversified business operations, which allow it to mitigate risks across one end market with strength across others. In the quarters ahead, CSL is expected to benefit from strength in its reroofing market in the United States and growth on the architectural metals platform. Recovery in the commercial aerospace business in the United States coupled with strength in the medical technologies business with a solid backlog level will likely aid its performance in the quarters ahead. Carlisle’s revenues are expected to grow more than 30% in 2022.
Benefits From Acquisitions: Carlisle intends to strengthen and expand its businesses through acquisitions. CSL’s buyout of Henry Company (September 2021) is steadily boosting its CCM segment’s construction activities. This buyout is expected to positively impact its 2022 earnings by $1.50 per share. In February 2022, CSL acquired MBTechnology, Inc, which has been strengthening CSL’s energy-efficient solution offerings for a while. It is worth noting that the purchases boosted revenue growth by 14.7% in the first quarter of 2022.
Rewards to Shareholders: CSL remains committed to rewarding its shareholders through dividend payouts. Carlisle paid out dividends worth $28.7 million and repurchased shares worth $125 million in the first three months of 2022. CSL also hiked the dividend rate 3% to 54 cents in August 2021. Exiting first-quarter 2022, CSL had 4.5 million shares under its authorization for repurchase.
Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for its 2022 earnings has moved up from $14.39 to $15.94 on one upward estimate revision against none downward. Further, the consensus estimate for 2023 earnings has increased from $16.15 to $17.73 on one upward estimate revision versus none downward.
Zacks Rank & Other Stocks to Consider
Some other top-ranked stocks are discussed below:
Griffon Corporation (GFF - Free Report) presently sports a Zacks Rank of 1. GFF’s earnings surprise in the last four quarters was 97%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, earnings estimates for GFF have increased 40% for fiscal 2022 (ending September 2022). The stock has inched up 6.2% in the past three months.
Roper Technologies, Inc. (ROP - Free Report) presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 2%, on average.
In the past 60 days, ROP’s earnings estimates have increased 1.1% for 2022. The stock has declined 1.9% in the past three months.
Ferguson plc (FERG - Free Report) is presently Zacks #2 Ranked. FERG’s earnings surprise in the last four quarters was 14.2%, on average.
In the past 60 days, the stock’s earnings estimates have increased 6.5% for fiscal 2022 (ending July 2022). The same has declined 25.9% in the past three months.