Carpenter Technology Corp. (NYSE:CRS) – Stock analysts at KeyCorp increased their FY2017 earnings per share estimates for Carpenter Technology Corp. in a research report issued on Monday. KeyCorp analyst P. Gibbs now anticipates that the brokerage will post earnings per share of $1.63 for the year, up from their previous forecast of $1.30. KeyCorp also issued estimates for Carpenter Technology Corp.’s FY2018 earnings at $2.68 EPS.
Carpenter Technology Corp. (NYSE:CRS) last released its earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Carpenter Technology Corp. had a net margin of 0.63% and a return on equity of 4.66%. The company earned $457.70 million during the quarter, compared to analysts’ expectations of $454 million. During the same quarter last year, the business earned $0.52 EPS. The business’s revenue was down 18.0% on a year-over-year basis.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, July 18th. Seaport Global Securities assumed coverage on shares of Carpenter Technology Corp. in a report on Friday, September 9th. They issued a “neutral” rating and a $38.00 price target on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 price target on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$37.80.
Carpenter Technology Corp. (NYSE:CRS) traded up 0.93% during mid-day trading on Thursday, hitting $41.26. 421,077 shares of the stock traded hands. Carpenter Technology Corp. has a 1-year low of $23.99 and a 1-year high of $42.25. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 179.39 and a beta of 1.97. The stock has a 50-day moving average of $37.60 and a 200 day moving average of $35.42.
Hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV raised its stake in Carpenter Technology Corp. by 1.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,390 shares of the company’s stock valued at $253,000 after buying an additional 85 shares during the last quarter. BlackRock Group LTD raised its stake in Carpenter Technology Corp. by 0.3% in the second quarter. BlackRock Group LTD now owns 35,419 shares of the company’s stock valued at $1,167,000 after buying an additional 104 shares during the last quarter. Scotia Capital Inc. raised its stake in Carpenter Technology Corp. by 1.0% in the second quarter. Scotia Capital Inc. now owns 16,152 shares of the company’s stock valued at $532,000 after buying an additional 153 shares during the last quarter. Hsbc Holdings PLC raised its stake in Carpenter Technology Corp. by 3.0% in the second quarter. Hsbc Holdings PLC now owns 7,003 shares of the company’s stock valued at $231,000 after buying an additional 201 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in Carpenter Technology Corp. by 1.6% in the second quarter. Neuberger Berman Group LLC now owns 22,291 shares of the company’s stock valued at $734,000 after buying an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of C$38.78, for a total transaction of C$401,683.24. Following the completion of the sale, the director now owns 12,613 shares in the company, valued at C$489,132.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 23rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.72 annualized dividend and a yield of 1.75%. Carpenter Technology Corp.’s payout ratio is 327.27%.
Carpenter Technology Corp. Company Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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