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Strength Seen in Carlisle (CSL): Can Its 10.8% Jump Turn into More Strength?
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Carlisle (CSL - Free Report) shares ended the last trading session 10.8% higher at $278.37. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.8% loss over the past four weeks.
Per reports, Carlisle has rejected Ireland-based Kingspan Group's informal proposal for a tie-up that could create a building materials giant with a market capitalization of about $30 billion. This news drove the company's shares.
However, Carlisle has reportedly indicated that it would be open to exploring some attractive options.
This diversified manufacturer is expected to post quarterly earnings of $5.60 per share in its upcoming report, which represents a year-over-year change of -1.1%. Revenues are expected to be $1.58 billion, down 11.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Carlisle, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CSL going forward to see if this recent jump can turn into more strength down the road.
Carlisle belongs to the Zacks Diversified Operations industry. Another stock from the same industry, Honeywell International Inc. (HON - Free Report) , closed the last trading session 0.9% higher at $186.21. Over the past month, HON has returned -3.2%.
Honeywell International Inc.'s consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.22. Compared to the company's year-ago EPS, this represents a change of -1.3%. Honeywell International Inc. currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Carlisle (CSL): Can Its 10.8% Jump Turn into More Strength?
Carlisle (CSL - Free Report) shares ended the last trading session 10.8% higher at $278.37. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.8% loss over the past four weeks.
Per reports, Carlisle has rejected Ireland-based Kingspan Group's informal proposal for a tie-up that could create a building materials giant with a market capitalization of about $30 billion. This news drove the company's shares.
However, Carlisle has reportedly indicated that it would be open to exploring some attractive options.
This diversified manufacturer is expected to post quarterly earnings of $5.60 per share in its upcoming report, which represents a year-over-year change of -1.1%. Revenues are expected to be $1.58 billion, down 11.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Carlisle, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CSL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Carlisle belongs to the Zacks Diversified Operations industry. Another stock from the same industry, Honeywell International Inc. (HON - Free Report) , closed the last trading session 0.9% higher at $186.21. Over the past month, HON has returned -3.2%.
Honeywell International Inc.'s consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.22. Compared to the company's year-ago EPS, this represents a change of -1.3%. Honeywell International Inc. currently boasts a Zacks Rank of #3 (Hold).