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

Zacks Equity Research
·2 min read

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.

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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 >>>>


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Zacks Investment Research