What is Zacks Research’s Estimate for CRS FY2029 Earnings?

Carpenter Technology Corporation (NYSE:CRS) – Equities researchers at Zacks Research issued their FY2029 earnings estimates for shares of Carpenter Technology in a research note issued to investors on Thursday, August 20th. Zacks Research analyst Team anticipates that the basic materials company will post earnings of $18.31 per share for the year. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $13.08 per share.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. BTIG Research raised their price objective on Carpenter Technology from $450.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, July 31st. KeyCorp reduced their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Finally, Susquehanna decreased their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology presently has a consensus rating of “Buy” and a consensus price target of $577.25.

Carpenter Technology Stock Down 3.0%

CRS stock opened at $477.50 on Monday. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $565.17 and its 200 day moving average price is $470.71. Carpenter Technology has a 52 week low of $228.00 and a 52 week high of $625.98. The company has a market cap of $23.66 billion, a P/E ratio of 45.39, a P/E/G ratio of 1.77 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. During the same quarter last year, the firm posted $2.21 EPS. The business’s revenue was up 12.6% compared to the same quarter last year.

Institutional Trading of Carpenter Technology

Several large investors have recently modified their holdings of CRS. Wealthcare Advisory Partners LLC raised its position in shares of Carpenter Technology by 1.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock worth $708,000 after purchasing an additional 19 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in Carpenter Technology by 3.7% during the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock valued at $280,000 after buying an additional 32 shares during the last quarter. Abel Hall LLC increased its position in Carpenter Technology by 3.2% during the fourth quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after buying an additional 32 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Carpenter Technology by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock worth $3,509,000 after buying an additional 34 shares in the last quarter. Finally, Essential Partners LLC raised its holdings in shares of Carpenter Technology by 9.9% in the first quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 34 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio is 7.60%.

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.