Carpenter Technology (NYSE:CRS) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Carpenter Technology (NYSE:CRS) released its quarterly earnings data on Thursday. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04), reports. Carpenter Technology had a return on equity of 10.33% and a net margin of 7.02%. The business had revenue of $585.40 million during the quarter, compared to analyst estimates of $604.78 million. During the same period in the previous year, the company earned $0.65 EPS. Carpenter Technology’s revenue was up 2.3% on a year-over-year basis.

Shares of CRS stock opened at $48.67 on Friday. The company has a market capitalization of $2.32 billion, a PE ratio of 14.07 and a beta of 2.36. The firm has a fifty day simple moving average of $51.59 and a 200-day simple moving average of $48.01. The company has a current ratio of 2.97, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. Carpenter Technology has a twelve month low of $32.77 and a twelve month high of $56.33.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.64%. Carpenter Technology’s dividend payout ratio (DPR) is presently 23.12%.

Several equities research analysts have recently issued reports on CRS shares. ValuEngine lowered shares of Carpenter Technology from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research downgraded shares of Carpenter Technology from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Carpenter Technology has a consensus rating of “Hold” and an average price target of $54.00.

In other news, Director Steven E. Karol sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the director now directly owns 230,543 shares in the company, valued at $12,679,865. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Carpenter Technology Company Profile

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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Earnings History for Carpenter Technology (NYSE:CRS)

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