Analysts expect Carpenter Technology Co. (NYSE:CRS) to post earnings of $0.80 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Carpenter Technology’s earnings, with the highest EPS estimate coming in at $0.83 and the lowest estimate coming in at $0.75. Carpenter Technology posted earnings of $0.87 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 8%. The business is expected to report its next quarterly earnings report on Thursday, April 23rd.
According to Zacks, analysts expect that Carpenter Technology will report full year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.13 to $3.40. For the next financial year, analysts forecast that the company will report earnings of $3.76 per share, with EPS estimates ranging from $3.70 to $3.82. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Carpenter Technology.
Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.04). Carpenter Technology had a net margin of 7.47% and a return on equity of 10.89%. The business had revenue of $573.00 million for the quarter, compared to analysts’ expectations of $575.83 million. During the same quarter in the previous year, the firm earned $0.76 EPS. Carpenter Technology’s revenue was up 3.0% compared to the same quarter last year.
In other news, Director Gregory A. Pratt sold 17,528 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.31, for a total value of $916,889.68. Following the transaction, the director now directly owns 22,141 shares of the company’s stock, valued at $1,158,195.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of CRS. Morgan Stanley boosted its stake in shares of Carpenter Technology by 4.0% in the second quarter. Morgan Stanley now owns 52,652 shares of the basic materials company’s stock worth $2,526,000 after buying an additional 2,015 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Carpenter Technology by 6.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,233 shares of the basic materials company’s stock worth $203,000 after buying an additional 246 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Carpenter Technology by 26.4% in the second quarter. Royal Bank of Canada now owns 10,860 shares of the basic materials company’s stock worth $521,000 after buying an additional 2,268 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Carpenter Technology in the second quarter worth about $182,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Carpenter Technology in the third quarter worth about $437,000. Hedge funds and other institutional investors own 92.12% of the company’s stock.
Shares of CRS stock traded down $0.32 during mid-day trading on Friday, hitting $43.34. The stock had a trading volume of 241,867 shares, compared to its average volume of 333,067. Carpenter Technology has a 12-month low of $39.49 and a 12-month high of $56.33. The firm has a market capitalization of $2.09 billion, a P/E ratio of 11.75 and a beta of 2.25. The firm’s 50-day moving average is $45.69 and its two-hundred day moving average is $49.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.72 and a quick ratio of 0.92.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Monday, February 3rd will be given a dividend of $0.20 per share. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, January 31st. Carpenter Technology’s dividend payout ratio is currently 23.12%.
About Carpenter Technology
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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