Wall Street brokerages expect that Carpenter Technology Co. (NYSE:CRS) will report earnings per share (EPS) of $0.80 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Carpenter Technology’s earnings. The lowest EPS estimate is $0.75 and the highest is $0.83. Carpenter Technology reported earnings per share of $0.87 in the same quarter last year, which indicates a negative year over year growth rate of 8%. The company is expected to announce its next earnings results 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 financial year, with EPS estimates ranging from $3.13 to $3.40. For the next fiscal year, analysts expect that the business will post earnings of $3.76 per share, with EPS estimates ranging from $3.70 to $3.82. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Carpenter Technology.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Carpenter Technology had a net margin of 7.47% and a return on equity of 10.89%. The firm had revenue of $573.00 million during the quarter, compared to analyst estimates of $575.83 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis.
NYSE CRS traded down $0.07 during trading hours on Friday, reaching $43.98. 282,662 shares of the company’s stock were exchanged, compared to its average volume of 319,005. The company’s 50-day moving average is $44.65 and its two-hundred day moving average is $49.12. Carpenter Technology has a one year low of $39.49 and a one year high of $56.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.92 and a current ratio of 2.72. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.92 and a beta of 2.25.
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 paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.82%. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, January 31st. Carpenter Technology’s dividend payout ratio is presently 23.12%.
In related news, Director Gregory A. Pratt sold 17,528 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.31, for a total transaction of $916,889.68. Following the completion of the sale, the director now directly owns 22,141 shares of the company’s stock, valued at approximately $1,158,195.71. The transaction was disclosed in a document filed with the SEC, which is available 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 grew its stake in shares of Carpenter Technology by 4.0% during the 2nd quarter. Morgan Stanley now owns 52,652 shares of the basic materials company’s stock worth $2,526,000 after acquiring an additional 2,015 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Carpenter Technology by 6.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,233 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 246 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Carpenter Technology by 26.4% during the 2nd quarter. Royal Bank of Canada now owns 10,860 shares of the basic materials company’s stock worth $521,000 after acquiring an additional 2,268 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $182,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $437,000. 92.26% of the stock is owned by institutional investors.
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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