Brokerages Expect Carpenter Technology Co. (CRS) to Post $0.75 Earnings Per Share

Analysts expect Carpenter Technology Co. (NYSE:CRS) to report $0.75 earnings per share for the current quarter, Zacks reports. Three analysts have provided estimates for Carpenter Technology’s earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.72. Carpenter Technology reported earnings per share of $0.49 in the same quarter last year, which suggests a positive year over year growth rate of 53.1%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, October 24th.

On average, analysts expect that Carpenter Technology will report full year earnings of $3.59 per share for the current financial year, with EPS estimates ranging from $3.46 to $3.68. For the next financial year, analysts forecast that the company will report earnings of $4.60 per share, with EPS estimates ranging from $4.43 to $4.77. Zacks’ EPS calculations are an average based on a survey of research firms that follow Carpenter Technology.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $618.00 million for the quarter, compared to the consensus estimate of $574.60 million. Carpenter Technology had a net margin of 8.74% and a return on equity of 8.86%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share.

CRS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Longbow Research downgraded shares of Carpenter Technology from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research note on Monday, June 25th. Finally, ValuEngine downgraded shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Carpenter Technology presently has a consensus rating of “Hold” and an average target price of $57.75.

CRS opened at $53.18 on Friday. Carpenter Technology has a 1-year low of $41.75 and a 1-year high of $61.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.35 and a current ratio of 3.24. The company has a market capitalization of $2.49 billion, a PE ratio of 21.27 and a beta of 2.05.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Tuesday, October 23rd will be paid a $0.20 dividend. The ex-dividend date is Monday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. Carpenter Technology’s payout ratio is currently 32.00%.

Several institutional investors and hedge funds have recently bought and sold shares of CRS. Citigroup Inc. boosted its stake in shares of Carpenter Technology by 153.9% in the 1st quarter. Citigroup Inc. now owns 2,511 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 1,522 shares in the last quarter. Zeke Capital Advisors LLC bought a new position in Carpenter Technology in the 2nd quarter valued at approximately $213,000. Park National Corp OH bought a new position in Carpenter Technology in the 2nd quarter valued at approximately $214,000. Jane Street Group LLC bought a new position in Carpenter Technology in the 2nd quarter valued at approximately $220,000. Finally, Crossmark Global Holdings Inc. bought a new position in Carpenter Technology in the 2nd quarter valued at approximately $222,000. Institutional investors own 94.39% of the company’s stock.

Carpenter Technology Company Profile

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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