Equities analysts predict that Carpenter Technology Corporation (NYSE:CRS) will post earnings of $0.43 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Carpenter Technology Corporation’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.36. Carpenter Technology Corporation posted earnings per share of ($0.08) in the same quarter last year, which would suggest a positive year-over-year growth rate of 637.5%. The company is expected to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Carpenter Technology Corporation will report full-year earnings of $2.09 per share for the current year, with EPS estimates ranging from $1.99 to $2.26. For the next year, analysts anticipate that the firm will report earnings of $2.58 per share, with EPS estimates ranging from $2.45 to $2.71. Zacks’ EPS calculations are an average based on a survey of research firms that follow Carpenter Technology Corporation.
Carpenter Technology Corporation (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The business had revenue of $507.70 million during the quarter, compared to the consensus estimate of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share.
CRS has been the topic of several research analyst reports. Zacks Investment Research cut shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Longbow Research increased their price target on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Cowen and Company reissued a “hold” rating and set a $37.00 price target on shares of Carpenter Technology Corporation in a research note on Monday, July 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Carpenter Technology Corporation has an average rating of “Buy” and a consensus target price of $43.50.
Shares of Carpenter Technology Corporation (CRS) traded up 1.98% during trading on Wednesday, hitting $42.24. The stock had a trading volume of 334,246 shares. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 42.67 and a beta of 2.09. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $45.33. The stock’s 50-day moving average price is $39.57 and its 200 day moving average price is $37.84.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.18 per share. The ex-dividend date was Friday, August 18th. This represents a $0.72 annualized dividend and a dividend yield of 1.70%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is currently 72.00%.
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In other news, Director Steven E. Karol sold 3,877 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now directly owns 230,418 shares of the company’s stock, valued at $9,258,195.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Wadsworth sold 4,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $40.25, for a total transaction of $161,000.00. Following the sale, the director now directly owns 4,200 shares in the company, valued at $169,050. The disclosure for this sale can be found here. Insiders have sold 26,522 shares of company stock worth $1,065,580 over the last three months. 3.60% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in Carpenter Technology Corporation in the second quarter valued at approximately $672,000. Public Employees Retirement System of Ohio boosted its stake in Carpenter Technology Corporation by 7.1% in the second quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 370 shares during the last quarter. Verition Fund Management LLC boosted its stake in Carpenter Technology Corporation by 13.6% in the second quarter. Verition Fund Management LLC now owns 10,149 shares of the basic materials company’s stock valued at $380,000 after acquiring an additional 1,214 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Carpenter Technology Corporation by 10.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,634 shares of the basic materials company’s stock valued at $286,000 after acquiring an additional 702 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Carpenter Technology Corporation by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 103,256 shares of the basic materials company’s stock valued at $3,864,000 after acquiring an additional 1,317 shares during the last quarter. 92.81% of the stock is currently owned by hedge funds and other institutional investors.
About Carpenter Technology Corporation
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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