Zacks Research Has Positive Outlook of CRS FY2028 Earnings

Carpenter Technology Corporation (NYSE:CRS) – Stock analysts at Zacks Research lifted their FY2028 earnings per share estimates for shares of Carpenter Technology in a research report issued on Friday, April 10th. Zacks Research analyst Team now forecasts that the basic materials company will post earnings per share of $14.12 for the year, up from their prior forecast of $14.10. The consensus estimate for Carpenter Technology’s current full-year earnings is $6.83 per share.

A number of other analysts also recently issued reports on the company. KeyCorp raised their target price on Carpenter Technology from $380.00 to $453.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Wells Fargo & Company assumed coverage on Carpenter Technology in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Carpenter Technology in a research note on Tuesday, January 27th. BTIG Research raised their price objective on Carpenter Technology from $365.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Susquehanna assumed coverage on Carpenter Technology in a research report on Tuesday, March 3rd. They set a “positive” rating and a $470.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $395.22.

Carpenter Technology Stock Up 2.0%

Shares of CRS opened at $443.80 on Monday. Carpenter Technology has a 52-week low of $165.00 and a 52-week high of $445.30. The company has a market capitalization of $22.11 billion, a PE ratio of 51.54, a price-to-earnings-growth ratio of 1.67 and a beta of 1.24. The stock has a fifty day simple moving average of $387.17 and a two-hundred day simple moving average of $335.13. The company has a quick ratio of 2.26, a current ratio of 4.25 and a debt-to-equity ratio of 0.35.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. Carpenter Technology had a return on equity of 23.63% and a net margin of 14.77%.The business had revenue of $728.00 million during the quarter, compared to the consensus estimate of $733.76 million. During the same period last year, the company earned $1.66 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, January 27th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, January 27th. Carpenter Technology’s dividend payout ratio (DPR) is presently 9.29%.

Insider Transactions at Carpenter Technology

In related news, SVP James D. Dee sold 15,800 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the completion of the sale, the senior vice president directly owned 73,739 shares of the company’s stock, valued at approximately $28,889,465.42. This trade represents a 17.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven E. Karol sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $381.12, for a total value of $1,333,920.00. Following the sale, the director directly owned 225,381 shares of the company’s stock, valued at $85,897,206.72. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,300 shares of company stock valued at $8,664,044 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Carpenter Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of CRS. Woodline Partners LP purchased a new position in Carpenter Technology during the 1st quarter valued at about $4,050,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Carpenter Technology by 1.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,785 shares of the basic materials company’s stock valued at $18,985,000 after acquiring an additional 1,701 shares during the period. Focus Partners Wealth boosted its holdings in Carpenter Technology by 7.3% during the 1st quarter. Focus Partners Wealth now owns 4,615 shares of the basic materials company’s stock valued at $836,000 after acquiring an additional 314 shares during the period. Quantbot Technologies LP purchased a new position in Carpenter Technology during the 2nd quarter valued at about $80,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Carpenter Technology during the 2nd quarter valued at about $533,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.