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Strength Seen in Carlisle (CSL): Can Its 3.8% Jump Turn into More Strength?
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Carlisle (CSL - Free Report) shares rallied 3.8% in the last trading session to close at $240.14. 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 7.8% loss over the past four weeks.
Carlisle’s rally is primarily driven by optimism around the company’s robustness in its Construction Materials, Weatherproofing Technologies, Interconnect Technologies and Fluid Technologies segments. Growing demand for energy-efficient building products coupled with a strong backlog, makes us upbeat about the stock’s prospects.
This diversified manufacturer is expected to post quarterly earnings of $4.95 per share in its upcoming report, which represents a year-over-year change of +129.2%. Revenues are expected to be $1.69 billion, up 43.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Carlisle, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 is part of the Zacks Diversified Operations industry. General Electric (GE - Free Report) , another stock in the same industry, closed the last trading session 4.7% higher at $67.08. GE has returned -16.8% in the past month.
For GE, the consensus EPS estimate for the upcoming report has changed -1.1% over the past month to $0.39. This represents a change of -2.5% from what the company reported a year ago. GE currently has a Zacks Rank of #5 (Strong Sell).
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Strength Seen in Carlisle (CSL): Can Its 3.8% Jump Turn into More Strength?
Carlisle (CSL - Free Report) shares rallied 3.8% in the last trading session to close at $240.14. 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 7.8% loss over the past four weeks.
Carlisle’s rally is primarily driven by optimism around the company’s robustness in its Construction Materials, Weatherproofing Technologies, Interconnect Technologies and Fluid Technologies segments. Growing demand for energy-efficient building products coupled with a strong backlog, makes us upbeat about the stock’s prospects.
This diversified manufacturer is expected to post quarterly earnings of $4.95 per share in its upcoming report, which represents a year-over-year change of +129.2%. Revenues are expected to be $1.69 billion, up 43.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Carlisle, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Carlisle is part of the Zacks Diversified Operations industry. General Electric (GE - Free Report) , another stock in the same industry, closed the last trading session 4.7% higher at $67.08. GE has returned -16.8% in the past month.
For GE, the consensus EPS estimate for the upcoming report has changed -1.1% over the past month to $0.39. This represents a change of -2.5% from what the company reported a year ago. GE currently has a Zacks Rank of #5 (Strong Sell).