Equities research analysts expect Carpenter Technology Co. (NYSE:CRS) to announce earnings per share (EPS) of $0.86 for the current quarter, Zacks reports. Three analysts have made estimates for Carpenter Technology’s earnings, with the lowest EPS estimate coming in at $0.80 and the highest estimate coming in at $0.89. Carpenter Technology posted earnings per share of $0.76 during the same quarter last year, which suggests a positive year over year growth rate of 13.2%. The business is scheduled to announce its next earnings results on Thursday, January 30th.
On average, analysts expect that Carpenter Technology will report full-year earnings of $3.92 per share for the current fiscal year, with EPS estimates ranging from $3.65 to $4.05. For the next year, analysts anticipate that the business will post earnings of $4.33 per share, with EPS estimates ranging from $4.00 to $4.66. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Carpenter Technology.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.04). Carpenter Technology had a return on equity of 10.81% and a net margin of 7.38%. The business had revenue of $585.40 million during the quarter, compared to analyst estimates of $604.78 million. During the same quarter last year, the company posted $0.65 EPS. Carpenter Technology’s quarterly revenue was up 2.3% compared to the same quarter last year.
Shares of CRS traded down $0.58 during mid-day trading on Friday, reaching $52.46. The company had a trading volume of 225,199 shares, compared to its average volume of 268,288. The stock has a market capitalization of $2.53 billion, a P/E ratio of 15.16 and a beta of 2.33. Carpenter Technology has a 52-week low of $32.77 and a 52-week high of $56.33. The stock has a 50 day moving average of $51.16 and a two-hundred day moving average of $48.20. The company has a quick ratio of 1.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.35.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date is Monday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.52%. Carpenter Technology’s payout ratio is currently 23.12%.
In other news, Director Gregory A. Pratt sold 17,528 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $50.30, for a total transaction of $881,658.40. Following the completion of the sale, the director now owns 6,623 shares of the company’s stock, valued at $333,136.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven E. Karol sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the director now owns 230,543 shares of the company’s stock, valued at $12,679,865. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Carpenter Technology by 6.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,233 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 246 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Carpenter Technology by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,980 shares of the basic materials company’s stock valued at $911,000 after purchasing an additional 271 shares in the last quarter. Texas Permanent School Fund increased its stake in Carpenter Technology by 0.9% in the 3rd quarter. Texas Permanent School Fund now owns 32,442 shares of the basic materials company’s stock valued at $1,676,000 after purchasing an additional 282 shares in the last quarter. Eqis Capital Management Inc. boosted its position in Carpenter Technology by 5.3% during the second quarter. Eqis Capital Management Inc. now owns 6,144 shares of the basic materials company’s stock worth $295,000 after purchasing an additional 307 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Carpenter Technology by 0.5% during the third quarter. Retirement Systems of Alabama now owns 61,959 shares of the basic materials company’s stock worth $3,201,000 after purchasing an additional 323 shares in the last quarter. 91.07% 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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