Wall Street analysts expect Carpenter Technology Co. (NYSE:CRS) to post earnings of ($0.75) per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Carpenter Technology’s earnings. The highest EPS estimate is ($0.28) and the lowest is ($1.22). Carpenter Technology posted earnings per share of ($0.58) in the same quarter last year, which would indicate a negative year-over-year growth rate of 29.3%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 28th.
On average, analysts expect that Carpenter Technology will report full year earnings of ($0.66) per share for the current year, with EPS estimates ranging from ($1.42) to $0.15. For the next fiscal year, analysts anticipate that the business will report earnings of $1.95 per share, with EPS estimates ranging from $1.85 to $2.05. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Carpenter Technology.
Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 29th. The basic materials company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.23. Carpenter Technology had a negative net margin of 15.56% and a negative return on equity of 7.02%. The business had revenue of $421.60 million for the quarter, compared to analyst estimates of $371.45 million.
Institutional investors have recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC purchased a new stake in shares of Carpenter Technology during the 1st quarter worth $4,840,000. Geode Capital Management LLC lifted its position in Carpenter Technology by 9.2% in the first quarter. Geode Capital Management LLC now owns 767,417 shares of the basic materials company’s stock valued at $31,579,000 after acquiring an additional 64,604 shares during the last quarter. Fisher Asset Management LLC lifted its position in Carpenter Technology by 6.8% in the second quarter. Fisher Asset Management LLC now owns 568,935 shares of the basic materials company’s stock valued at $22,883,000 after acquiring an additional 36,009 shares during the last quarter. Van ECK Associates Corp lifted its position in Carpenter Technology by 27.7% in the first quarter. Van ECK Associates Corp now owns 36,893 shares of the basic materials company’s stock valued at $1,518,000 after acquiring an additional 7,995 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Carpenter Technology by 6.6% in the first quarter. Squarepoint Ops LLC now owns 15,799 shares of the basic materials company’s stock valued at $650,000 after acquiring an additional 983 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CRS traded up $1.15 during midday trading on Wednesday, reaching $32.97. 2,887 shares of the stock were exchanged, compared to its average volume of 361,989. The company has a 50 day simple moving average of $35.85 and a 200 day simple moving average of $39.99. The stock has a market capitalization of $1.58 billion, a P/E ratio of -6.90 and a beta of 2.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.26 and a current ratio of 3.65. Carpenter Technology has a twelve month low of $15.90 and a twelve month high of $49.20.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Tuesday, August 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.43%. Carpenter Technology’s dividend payout ratio (DPR) is currently -39.80%.
About Carpenter Technology
Carpenter Technology Corp. engages in the manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment comprises of major premium alloy and stainless steel manufacturing operations.
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