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Here's Why You Can Consider Investing in Carlisle (CSL) Stock
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Carlisle Companies Incorporated (CSL - Free Report) currently boasts robust prospects on strength in its businesses, solid product portfolio, acquired assets and a sound capital-deployment strategy.
The Zacks Rank #1 (Strong Buy) company has a market capitalization of $12.4 billion. In the past six months, it has gained 0.5% against the industry’s decline of 21.4%.
Image Source: Zacks Investment Research
Let’s delve into the factors that make investment in the company a smart choice at the moment.
End-Market Strength: Carlisle has been benefiting from solid momentum in the U.S. reroofing market and high demand for energy-efficient building products. Strength in the company’s medical technologies business and recovery in the commercial aerospace business have been driving its performance. In the quarters ahead, higher industrial capital spending, product innovation efforts and strong backlog level bode well. For 2022, it expects revenues to grow more than 30% on a year-over-year basis.
Acquisition Benefits: CSL’s acquisition of MBTechnology (February 2022) is expected to strengthen its building products platform, boosting its energy-efficient solution offerings. Also, its buyout of Henry Company (September 2021) enhanced its product offerings for construction activities. The company anticipates the buyout to boost its earnings by $1.50 per share in 2022. Acquisitions had a positive contribution of 14.7% to revenue growth in the first-quarter 2022.
Operational Efficiency: Carlisle leverages its Carlisle Operating System (COS) culture to drive efficiencies through business processes and return cash to shareholders. For instance, in the first quarter, the company’s operating margin increased 950 basis points, supported by higher volumes, price realization and contribution from the COS.
Rewards to Shareholders: In first-quarter 2022, Carlisle paid out dividends of $28.7 million to its shareholders and repurchased shares worth $125 million. It hiked the quarterly dividend rate by 3% to 54 cents in August 2021. Exiting the first quarter, it had $4.5 million worth of shares left under its share repurchase authorization.
Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for CSL’s 2022 earnings has moved up from $14.36 to $17.64 on two upward estimate revisions against none downward. The consensus estimate for its 2023 earnings has increased from $16.15 to $19.50 on two upward estimate revisions versus none downward.
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Some other top-ranked companies are discussed below:
In the past 60 days, Griffon’s earnings estimates have increased 80.5% for fiscal 2022 (ending September 2022). The stock has declined 5.8% in the past six months.
Federal Signal Corporation (FSS - Free Report) presently has a Zacks Rank of 2 (Buy). FSS delivered a trailing four-quarter earnings surprise of 11.7%, on average.
In the past 60 days, Federal Signal’s earnings estimates have increased 2.1% for 2022. FSS’ shares have declined 17.1% in the past six months.
Nordson Corporation (NDSN - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 4.5%, on average.
In the past 60 days, NDSN’s earnings estimates have increased 3% for 2022. The stock has declined 20.4% in the six months.
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Here's Why You Can Consider Investing in Carlisle (CSL) Stock
Carlisle Companies Incorporated (CSL - Free Report) currently boasts robust prospects on strength in its businesses, solid product portfolio, acquired assets and a sound capital-deployment strategy.
The Zacks Rank #1 (Strong Buy) company has a market capitalization of $12.4 billion. In the past six months, it has gained 0.5% against the industry’s decline of 21.4%.
Image Source: Zacks Investment Research
Let’s delve into the factors that make investment in the company a smart choice at the moment.
End-Market Strength: Carlisle has been benefiting from solid momentum in the U.S. reroofing market and high demand for energy-efficient building products. Strength in the company’s medical technologies business and recovery in the commercial aerospace business have been driving its performance. In the quarters ahead, higher industrial capital spending, product innovation efforts and strong backlog level bode well. For 2022, it expects revenues to grow more than 30% on a year-over-year basis.
Acquisition Benefits: CSL’s acquisition of MBTechnology (February 2022) is expected to strengthen its building products platform, boosting its energy-efficient solution offerings. Also, its buyout of Henry Company (September 2021) enhanced its product offerings for construction activities. The company anticipates the buyout to boost its earnings by $1.50 per share in 2022. Acquisitions had a positive contribution of 14.7% to revenue growth in the first-quarter 2022.
Operational Efficiency: Carlisle leverages its Carlisle Operating System (COS) culture to drive efficiencies through business processes and return cash to shareholders. For instance, in the first quarter, the company’s operating margin increased 950 basis points, supported by higher volumes, price realization and contribution from the COS.
Rewards to Shareholders: In first-quarter 2022, Carlisle paid out dividends of $28.7 million to its shareholders and repurchased shares worth $125 million. It hiked the quarterly dividend rate by 3% to 54 cents in August 2021. Exiting the first quarter, it had $4.5 million worth of shares left under its share repurchase authorization.
Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for CSL’s 2022 earnings has moved up from $14.36 to $17.64 on two upward estimate revisions against none downward. The consensus estimate for its 2023 earnings has increased from $16.15 to $19.50 on two upward estimate revisions 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. 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.
In the past 60 days, Griffon’s earnings estimates have increased 80.5% for fiscal 2022 (ending September 2022). The stock has declined 5.8% in the past six months.
Federal Signal Corporation (FSS - Free Report) presently has a Zacks Rank of 2 (Buy). FSS delivered a trailing four-quarter earnings surprise of 11.7%, on average.
In the past 60 days, Federal Signal’s earnings estimates have increased 2.1% for 2022. FSS’ shares have declined 17.1% in the past six months.
Nordson Corporation (NDSN - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 4.5%, on average.
In the past 60 days, NDSN’s earnings estimates have increased 3% for 2022. The stock has declined 20.4% in the six months.