Zacks Research Brokers Increase Earnings Estimates for CRS

Carpenter Technology Corporation (NYSE:CRS) – Investment analysts at Zacks Research boosted their Q1 2027 EPS estimates for Carpenter Technology in a report issued on Friday, August 28th. Zacks Research analyst Team now expects that the basic materials company will earn $2.91 per share for the quarter, up from their prior forecast of $2.89. Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $13.09 per share. Zacks Research also issued estimates for Carpenter Technology’s Q2 2027 earnings at $2.98 EPS, Q3 2027 earnings at $3.34 EPS, Q4 2027 earnings at $3.58 EPS, FY2027 earnings at $12.80 EPS, Q1 2028 earnings at $3.37 EPS, Q2 2028 earnings at $3.55 EPS, Q3 2028 earnings at $3.99 EPS, Q4 2028 earnings at $4.16 EPS, FY2028 earnings at $15.08 EPS and FY2029 earnings at $18.44 EPS.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Wall Street Zen downgraded Carpenter Technology from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. KeyCorp reduced their price objective on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Wells Fargo & Company raised their price objective on Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $577.25.

Carpenter Technology Stock Up 0.1%

Shares of CRS opened at $476.72 on Monday. Carpenter Technology has a one year low of $228.00 and a one year high of $625.98. The company has a market cap of $23.63 billion, a P/E ratio of 45.32, a P/E/G ratio of 1.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23. The firm has a 50 day simple moving average of $555.47 and a two-hundred day simple moving average of $475.21.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.14. The company had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 EPS.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds have recently modified their holdings of CRS. Geneos Wealth Management Inc. acquired a new position in Carpenter Technology in the 2nd quarter worth about $28,000. Keating Financial Advisory Services Inc. bought a new position in Carpenter Technology in the second quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Carpenter Technology during the first quarter valued at about $30,000. SJS Investment Consulting Inc. boosted its stake in shares of Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Carpenter Technology during the second quarter valued at about $43,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Buying and Selling

In other Carpenter Technology news, CEO Tony R. Thene sold 57,456 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total value of $27,802,958.40. Following the sale, the chief executive officer owned 439,631 shares in the company, valued at $212,737,440.90. This trade represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ramin Younessi sold 438 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $493.15, for a total transaction of $215,999.70. Following the sale, the director directly owned 1,953 shares in the company, valued at approximately $963,121.95. The trade was a 18.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 109,721 shares of company stock worth $53,091,824 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 annualized dividend and a yield of 0.2%. Carpenter Technology’s dividend payout ratio is presently 7.60%.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.