Carlisle Companies Incorporated (NYSE:CSL) Increases Dividend to $0.37 Per Share
Carlisle Companies Incorporated (NYSE:CSL) declared a quarterly dividend on Monday, August 7th, RTT News reports. Stockholders of record on Friday, August 18th will be paid a dividend of 0.37 per share by the conglomerate on Friday, September 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.35.
Carlisle Companies has increased its dividend by an average of 15.7% annually over the last three years and has raised its dividend every year for the last 40 years. Carlisle Companies has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carlisle Companies to earn $6.11 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.9%.
Shares of Carlisle Companies (NYSE CSL) traded up 0.36% on Monday, hitting $98.72. The stock had a trading volume of 79,725 shares. Carlisle Companies has a 12 month low of $93.47 and a 12 month high of $116.40. The firm’s 50-day moving average price is $96.88 and its 200 day moving average price is $102.87. The firm has a market cap of $6.24 billion, a P/E ratio of 27.90 and a beta of 0.77.
Carlisle Companies (NYSE:CSL) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.61 by $0.03. Carlisle Companies had a return on equity of 15.18% and a net margin of 6.04%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned $1.75 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts anticipate that Carlisle Companies will post $5.19 EPS for the current fiscal year.
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Several research firms recently weighed in on CSL. BidaskClub downgraded shares of Carlisle Companies from a “hold” rating to a “sell” rating in a research report on Saturday. FBR & Co restated an “outperform” rating and set a $125.00 price target on shares of Carlisle Companies in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Carlisle Companies in a research report on Wednesday, June 14th. Robert W. Baird restated an “outperform” rating on shares of Carlisle Companies in a research report on Monday, July 10th. Finally, Zacks Investment Research downgraded shares of Carlisle Companies from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Carlisle Companies has an average rating of “Hold” and an average target price of $122.50.
About Carlisle Companies
Carlisle Companies Incorporated is a manufacturing company. The Company designs, manufactures and markets a range of products that serve a range of markets, including commercial roofing, energy, agriculture, mining, construction, aerospace and defense electronics, medical technology, transportation, general industrial, protective coatings, wood, auto refinishing, foodservice, and healthcare and sanitary maintenance.
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