Equities research analysts forecast that Carpenter Technology Co. (NYSE:CRS) will report earnings of $0.86 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Carpenter Technology’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.80. Carpenter Technology posted earnings of $0.76 per share during the same quarter last year, which would suggest a positive year over year growth rate of 13.2%. The firm is expected to announce its next quarterly earnings report on Thursday, January 30th.
According to Zacks, analysts expect that Carpenter Technology will report full-year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.65 to $4.05. For the next financial year, analysts anticipate that the company will post earnings of $4.33 per share, with EPS estimates ranging from $4.00 to $4.66. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Carpenter Technology.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.04). Carpenter Technology had a net margin of 7.38% and a return on equity of 10.81%. The business had revenue of $585.40 million during the quarter, compared to analyst estimates of $604.78 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Carpenter Technology’s revenue for the quarter was up 2.3% compared to the same quarter last year.
CRS has been the subject of several research analyst reports. Zacks Investment Research lowered Carpenter Technology from a “hold” rating to a “sell” rating and set a $54.00 price objective for the company. in a research report on Wednesday, October 16th. ValuEngine upgraded Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.
In other Carpenter Technology news, Director Gregory A. Pratt sold 17,528 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $50.30, for a total value of $881,658.40. Following the sale, the director now owns 6,623 shares in the company, valued at approximately $333,136.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. Karol sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the director now owns 230,543 shares in the company, valued at approximately $12,679,865. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new stake in Carpenter Technology in the 2nd quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new stake in Carpenter Technology in the 2nd quarter valued at approximately $85,000. Strs Ohio lifted its stake in Carpenter Technology by 86.7% in the 3rd quarter. Strs Ohio now owns 2,800 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 1,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Carpenter Technology by 26.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,222 shares of the basic materials company’s stock valued at $166,000 after acquiring an additional 668 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Carpenter Technology in the 2nd quarter valued at approximately $182,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.
Shares of CRS traded up $1.14 on Friday, hitting $52.95. The company’s stock had a trading volume of 135,900 shares, compared to its average volume of 269,387. The company has a quick ratio of 1.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average price is $51.04 and its 200-day moving average price is $48.14. Carpenter Technology has a fifty-two week low of $32.77 and a fifty-two week high of $56.33. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 15.30 and a beta of 2.33.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, October 21st. Carpenter Technology’s payout ratio is 23.12%.
About Carpenter Technology
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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