Wall Street analysts expect Carpenter Technology Co. (NYSE:CRS) to post earnings of $0.73 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Carpenter Technology’s earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.64. Carpenter Technology reported earnings of $0.49 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 49%. The business is expected to issue its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that Carpenter Technology will report full-year earnings of $3.58 per share for the current year, with EPS estimates ranging from $3.46 to $3.65. For the next fiscal year, analysts anticipate that the business will report earnings of $4.53 per share, with EPS estimates ranging from $4.43 to $4.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Carpenter Technology.
Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, August 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $618.00 million during the quarter, compared to analyst estimates of $574.60 million. Carpenter Technology had a net margin of 8.74% and a return on equity of 8.86%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share.
Several analysts recently issued reports on CRS shares. Cowen restated a “buy” rating and set a $66.00 target price on shares of Carpenter Technology in a research report on Friday, June 1st. Longbow Research lowered shares of Carpenter Technology from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a research report on Monday, June 25th. ValuEngine lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Monday, August 6th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $57.75.
Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Carpenter Technology by 4.2% in the second quarter. BlackRock Inc. now owns 5,226,200 shares of the basic materials company’s stock worth $274,743,000 after purchasing an additional 208,884 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Carpenter Technology by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,958,359 shares of the basic materials company’s stock worth $174,643,000 after purchasing an additional 20,514 shares during the period. Northern Trust Corp lifted its holdings in shares of Carpenter Technology by 4.6% in the second quarter. Northern Trust Corp now owns 1,109,792 shares of the basic materials company’s stock worth $58,342,000 after buying an additional 48,954 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Carpenter Technology in the first quarter worth $46,984,000. Finally, Federated Investors Inc. PA lifted its holdings in shares of Carpenter Technology by 9.9% in the first quarter. Federated Investors Inc. PA now owns 431,296 shares of the basic materials company’s stock worth $19,029,000 after buying an additional 38,921 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.
NYSE CRS traded down $0.58 during trading hours on Friday, hitting $58.89. 1,848 shares of the company’s stock traded hands, compared to its average volume of 175,496. The company has a current ratio of 3.24, a quick ratio of 1.35 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 23.98 and a beta of 2.06. Carpenter Technology has a 52 week low of $41.75 and a 52 week high of $61.49.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Tuesday, August 28th were given a $0.20 dividend. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Monday, August 27th. Carpenter Technology’s dividend payout ratio is presently 32.00%.
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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