Carpenter Technology Corporation (NYSE:CRS) will be issuing its quarterly earnings data before the market opens on Wednesday, October 25th. Analysts expect the company to announce earnings of $0.39 per share for the quarter.
Carpenter Technology Corporation (NYSE:CRS) last issued its earnings results 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. Carpenter Technology Corporation had a net margin of 2.61% and a return on equity of 4.48%. The company had revenue of $507.70 million for the quarter, compared to analysts’ expectations of $502.40 million. During the same period in the prior year, the business earned $0.35 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts expect Carpenter Technology Corporation to post $2.11 EPS for the current fiscal year and $2.63 EPS for the next fiscal year.
Carpenter Technology Corporation (CRS) opened at 49.97 on Wednesday. Carpenter Technology Corporation has a one year low of $30.37 and a one year high of $50.92. The firm’s 50-day moving average is $44.56 and its 200 day moving average is $39.35. The company has a market capitalization of $2.34 billion, a PE ratio of 50.47 and a beta of 2.10.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, October 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. Carpenter Technology Corporation’s dividend payout ratio (DPR) is presently 72.00%.
In related news, Director Steven E. Karol sold 2,645 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the sale, the director now directly owns 230,418 shares in the company, valued at $9,331,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director I Martin Inglis sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $318,160.00. Following the sale, the director now owns 11,200 shares in the company, valued at $445,424. 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 90 days. Insiders own 4.51% of the company’s stock.
CRS has been the topic of a number of recent research reports. Longbow Research boosted their price target on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, July 18th. Cowen and Company reiterated a “hold” rating and set a $37.00 price target on shares of Carpenter Technology Corporation in a research note on Monday, July 17th. Finally, KeyCorp reiterated a “hold” rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $45.50.
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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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