Q2 Earnings Estimate for CRS Issued By KeyCorp

Carpenter Technology Corporation (NYSE:CRS) – Equities researchers at KeyCorp issued their Q2 2027 earnings per share (EPS) estimates for Carpenter Technology in a note issued to investors on Sunday, October 25th. KeyCorp analyst S. Mckinney forecasts that the basic materials company will post earnings of $2.94 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $13.35 per share. KeyCorp also issued estimates for Carpenter Technology’s Q3 2027 earnings at $3.45 EPS, Q4 2027 earnings at $3.81 EPS and FY2028 earnings at $16.00 EPS.

A number of other research firms have also recently weighed in on CRS. Weiss Ratings cut Carpenter Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. TD Cowen cut their price objective on Carpenter Technology from $650.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. JPMorgan Chase & Co. decreased their target price on shares of Carpenter Technology from $700.00 to $520.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Finally, Wall Street Zen upgraded shares of Carpenter Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price of $476.43.

Carpenter Technology Stock Performance

Shares of CRS opened at $290.51 on Tuesday. The business has a 50-day simple moving average of $419.35 and a two-hundred day simple moving average of $443.26. The company has a quick ratio of 2.05, a current ratio of 3.94 and a debt-to-equity ratio of 0.32. Carpenter Technology has a 52 week low of $275.60 and a 52 week high of $625.98. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 0.99 and a beta of 1.29.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.21. The business had revenue of $634.80 million during the quarter, compared to analyst estimates of $830.85 million. Carpenter Technology had a return on equity of 27.50% and a net margin of 17.87%. Carpenter Technology’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.43 earnings per share.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Tuesday, October 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $0.80 annualized dividend and a yield of 0.3%. Carpenter Technology’s dividend payout ratio is currently 7.05%.

Insider Buying and Selling

In other Carpenter Technology news, Director Steven Karol sold 3,275 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $474.08, for a total value of $1,552,612.00. Following the completion of the sale, the director owned 177,000 shares in the company, valued at approximately $83,912,160. This represents a 1.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ramin Younessi sold 438 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the completion of the sale, the director owned 1,953 shares of the company’s stock, valued at $963,121.95. The trade was a 18.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 112,996 shares of company stock valued at $54,644,436. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Carpenter Technology

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Carpenter Technology during the second quarter worth about $3,834,623,000. Jennison Associates LLC purchased a new stake in Carpenter Technology during the 1st quarter valued at approximately $317,411,000. SurgoCap Partners LP purchased a new stake in Carpenter Technology during the 2nd quarter valued at approximately $423,444,000. Bank of America Corp DE raised its position in shares of Carpenter Technology by 101.9% during the first quarter. Bank of America Corp DE now owns 520,392 shares of the basic materials company’s stock valued at $205,113,000 after buying an additional 262,701 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Carpenter Technology by 82.2% during the second quarter. Wellington Management Group LLP now owns 506,167 shares of the basic materials company’s stock valued at $312,224,000 after buying an additional 228,290 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

About Carpenter Technology

Carpenter Technology Corporation is a manufacturer of premium specialty metals and engineered materials for demanding applications. The company produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, stress, and wear.

Its products are used in aerospace and defense, medical devices, energy, transportation, industrial equipment, and other specialized markets. Carpenter Technology supplies materials in forms such as bar, wire, strip, sheet, and powder, and also provides processing and engineered component solutions through its performance-engineered products operations.

Founded in 1889 as Carpenter Steel Company, the company has developed a global customer base supported by manufacturing, research, and service operations in the United States and international markets.