Canada markets closed
  • S&P/TSX

    19,999.59
    -144.45 (-0.72%)
     
  • S&P 500

    4,166.45
    -55.41 (-1.31%)
     
  • DOW

    33,290.08
    -533.37 (-1.58%)
     
  • CAD/USD

    0.8021
    -0.0073 (-0.90%)
     
  • CRUDE OIL

    71.50
    +0.46 (+0.65%)
     
  • BTC-CAD

    44,298.64
    -598.10 (-1.33%)
     
  • CMC Crypto 200

    888.52
    -51.42 (-5.47%)
     
  • GOLD FUTURES

    1,763.90
    -10.90 (-0.61%)
     
  • RUSSELL 2000

    2,237.75
    -49.71 (-2.17%)
     
  • 10-Yr Bond

    1.4500
    -0.0610 (-4.04%)
     
  • NASDAQ

    14,030.38
    -130.97 (-0.92%)
     
  • VOLATILITY

    20.70
    +2.95 (+16.62%)
     
  • FTSE

    7,017.47
    -135.96 (-1.90%)
     
  • NIKKEI 225

    28,964.08
    -54.25 (-0.19%)
     
  • CAD/EUR

    0.6758
    -0.0036 (-0.53%)
     

Carlisle (CSL) Moves 7.2% Higher: Will This Strength Last?

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

Carlisle Companies Incorporated (CSL) shares ended the last trading session 7.2% higher at $190.48. 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 9.9% gain over the past four weeks.

Carlisle recorded solid price appreciation, courtesy of its robust first-quarter 2021 results, wherein adjusted earnings and revenues surpassed the Zacks Consensus Estimate by 116.2% and 5.5%, respectively. Solid demand for U.S. commercial roofing and architectural metals platform, along with substantial improvement across general industrial markets, contributed to the company’s strong first-quarter performance.

Price and Consensus

Price Consensus Chart for CSL
Price Consensus Chart for CSL

This diversified manufacturer is expected to post quarterly earnings of $1.86 per share in its upcoming report, which represents a year-over-year change of +15.5%. Revenues are expected to be $1.19 billion, up 15.9% 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 2.5% 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 >>>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting