Carlisle Companies Incorporated (CSL - Free Report) currently seems to be a smart choice for investors seeking exposure in the conglomerate space. Solid fundamentals and positive revision in earnings estimates are reflective of healthy growth potential of the company.
The Scottsdale, AZ-based company currently has a Zacks Rank #2 (Buy) and VGM Score of A.
It belongs to the Zacks Diversified Operations industry. The industry players are gaining from improving oil and gas businesses, rise in demand for air travel, infrastructure development, growth in governmental and defense demand, the improving manufacturing sector, and others.
Below we discussed why investing in Carlisle will be a smart choice.
Share Price Performance, Earnings Outlook: Market sentiments seem to be working in favor of the company over time. In the past six months, Carlisle’s share price has gained 14.1% compared with the industry’s growth of 8.8%.
Notably, in the third quarter of 2019, the company’s earnings surpassed the Zacks Consensus Estimate by 5.68% and grew 44% from the year-ago quarter. The bottom-line results reflected solid sales and improved operating margin. Average earnings surprise in the last four quarters is positive 18.58%.
Going forward, solid product portfolio, global footprint, acquired assets and improved pricing might be beneficial for the company’s bottom line.
In the past 60 days, earnings estimates for 2019 and 2020 have been revised upward, reflecting positive sentiments about Carlisle’s growth prospects. Currently, the consensus estimate for its earnings is pegged at $8.25 for 2019 and $9.15 for 2020, mirroring growth of 2.1% and 1.8% from the respective 60-day-ago figures.
Carlisle Companies Incorporated Price and Consensus