Wall Street analysts expect Carpenter Technology Co. (NYSE:CRS – Get Rating) to announce $0.04 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Carpenter Technology’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.07. Carpenter Technology reported earnings of ($0.28) per share in the same quarter last year, which indicates a positive year over year growth rate of 114.3%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Carpenter Technology will report full-year earnings of ($0.97) per share for the current year, with EPS estimates ranging from ($1.05) to ($0.88). For the next fiscal year, analysts forecast that the business will post earnings of $1.45 per share, with EPS estimates ranging from $1.42 to $1.47. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Carpenter Technology.
Carpenter Technology (NYSE:CRS – Get Rating) last released its earnings results on Thursday, April 28th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.07. The business had revenue of $489.00 million during the quarter, compared to analyst estimates of $415.67 million. Carpenter Technology had a negative net margin of 6.42% and a negative return on equity of 4.77%. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.54) earnings per share.
Several research analysts recently issued reports on the stock. Benchmark increased their price target on shares of Carpenter Technology from $43.00 to $48.00 in a report on Wednesday, April 20th. StockNews.com upgraded shares of Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Monday, May 16th. Finally, JPMorgan Chase & Co. upgraded shares of Carpenter Technology from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $53.00 in a research report on Friday, February 11th.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Carpenter Technology by 3.3% in the fourth quarter. BlackRock Inc. now owns 7,798,106 shares of the basic materials company’s stock worth $227,628,000 after buying an additional 249,578 shares during the last quarter. State Street Corp increased its holdings in Carpenter Technology by 35.7% in the first quarter. State Street Corp now owns 3,358,268 shares of the basic materials company’s stock worth $140,980,000 after buying an additional 883,239 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Carpenter Technology by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,174,979 shares of the basic materials company’s stock valued at $133,287,000 after purchasing an additional 116,980 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in Carpenter Technology by 27.6% during the first quarter. Frontier Capital Management Co. LLC now owns 1,610,376 shares of the basic materials company’s stock valued at $67,604,000 after purchasing an additional 348,004 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Carpenter Technology by 33.9% during the first quarter. Invesco Ltd. now owns 1,453,421 shares of the basic materials company’s stock valued at $61,014,000 after purchasing an additional 368,093 shares during the last quarter. Institutional investors own 91.36% of the company’s stock.
Shares of Carpenter Technology stock traded up $0.96 during trading hours on Friday, hitting $36.11. The company had a trading volume of 271,606 shares, compared to its average volume of 470,537. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.21 and a quick ratio of 1.38. Carpenter Technology has a twelve month low of $26.84 and a twelve month high of $49.20. The company has a market cap of $1.74 billion, a P/E ratio of -15.98 and a beta of 1.72. The company’s 50-day moving average is $38.55 and its two-hundred day moving average is $34.49.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Tuesday, May 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, May 2nd. Carpenter Technology’s dividend payout ratio is presently -35.40%.
Carpenter Technology Company Profile (Get Rating)
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through 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.
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