News stories about Carpenter Technology Corporation (NYSE:CRS) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Carpenter Technology Corporation earned a media sentiment score of 0.21 on Accern’s scale. Accern also assigned news headlines about the basic materials company an impact score of 45.6114499625231 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Zacks: Analysts Anticipate Carpenter Technology Corporation (CRS) Will Post Earnings of $0.44 Per Share (americanbankingnews.com)
- Dividend Coverage: This Manufacturer of Stainless Steels and Special Alloys has a Dividend Yield of 1.44%; Will Trade Ex-Dividend on October 23, 2017 (finance.yahoo.com)
- How Do Analysts See Carpenter Technology Corporation (CRS) Performing In The Year Ahead? (finance.yahoo.com)
- Carpenter Technology Corporation (CRS) Earns “Hold” Rating from Cowen and Company (americanbankingnews.com)
- Carpenter Technology Corporation (CRS) to Release Quarterly Earnings on Wednesday (americanbankingnews.com)
Shares of Carpenter Technology Corporation (NYSE CRS) traded up 0.20% during midday trading on Monday, reaching $50.01. The company’s stock had a trading volume of 92,775 shares. The stock has a 50 day moving average price of $45.82 and a 200-day moving average price of $39.78. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 50.52 and a beta of 2.10. Carpenter Technology Corporation has a 52-week low of $30.37 and a 52-week high of $50.98.
Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The company had revenue of $507.70 million for the quarter, compared to analyst estimates of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. Carpenter Technology Corporation’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. Equities research analysts expect that Carpenter Technology Corporation will post $2.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.44%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio is 72.00%.
Several equities analysts recently issued reports on the company. Cowen and Company restated a “hold” rating and set a $37.00 price objective on shares of Carpenter Technology Corporation in a research note on Monday, July 17th. Longbow Research raised their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, July 18th. KeyCorp restated a “hold” rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Finally, TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.50.
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In related news, Director I Martin Inglis sold 8,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $39.77, for a total value of $318,160.00. Following the sale, the director now owns 11,200 shares of the company’s stock, valued at approximately $445,424. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven E. Karol sold 3,877 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $40.18, for a total value of $155,777.86. Following the completion of the sale, the director now directly owns 230,418 shares in the company, valued at approximately $9,258,195.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,522 shares of company stock worth $1,065,580. 4.51% of the stock is owned by insiders.
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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