Carpenter Technology (NYSE:CRS) Announces Earnings Results

Carpenter Technology (NYSE:CRS) announced its earnings results on Thursday. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08, Zacks reports. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%.

Carpenter Technology Price Performance

CRS opened at $193.12 on Friday. The company has a fifty day moving average price of $187.81 and a two-hundred day moving average price of $163.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The firm has a market capitalization of $9.63 billion, a PE ratio of 43.01, a P/E/G ratio of 0.99 and a beta of 1.55. Carpenter Technology has a 52 week low of $58.87 and a 52 week high of $213.65.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology’s payout ratio is presently 17.82%.

Analyst Upgrades and Downgrades

CRS has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.50.

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.