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Carlisle (CSL) Soars 5.5%: Is Further Upside Left in the Stock?
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Carlisle Companies Incorporated (CSL - Free Report) shares rallied 5.5% in the last trading session to close at $360.96. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4% gain over the past four weeks.
Carlisle’s rally is primarily driven by optimism over strength in the non-residential market, driven by growing re-roof activity in the construction sector. Also, the company’s Vision 2030 program is enabling it to unleash the full potential of its pure-play building products portfolio with best-in-class returns.
This diversified manufacturer is expected to post quarterly earnings of $6.45 per share in its upcoming report, which represents a year-over-year change of +2.9%. Revenues are expected to be $1.47 billion, up 1.2% 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 been revised 0.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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, Griffon (GFF - Free Report) , closed the last trading session 2.6% higher at $91.13. Over the past month, GFF has returned 6.6%.
For Griffon, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.33. This represents a change of -11.3% from what the company reported a year ago. Griffon currently has a Zacks Rank of #2 (Buy).
View the Zacks #1 Rank List
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Carlisle (CSL) Soars 5.5%: Is Further Upside Left in the Stock?
Carlisle Companies Incorporated (CSL - Free Report) shares rallied 5.5% in the last trading session to close at $360.96. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4% gain over the past four weeks.
Carlisle’s rally is primarily driven by optimism over strength in the non-residential market, driven by growing re-roof activity in the construction sector. Also, the company’s Vision 2030 program is enabling it to unleash the full potential of its pure-play building products portfolio with best-in-class returns.
This diversified manufacturer is expected to post quarterly earnings of $6.45 per share in its upcoming report, which represents a year-over-year change of +2.9%. Revenues are expected to be $1.47 billion, up 1.2% 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 been revised 0.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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, Griffon (GFF - Free Report) , closed the last trading session 2.6% higher at $91.13. Over the past month, GFF has returned 6.6%.
For Griffon, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.33. This represents a change of -11.3% from what the company reported a year ago. Griffon currently has a Zacks Rank of #2 (Buy).