Brokers Issue Forecasts for CRS FY2027 Earnings

Carpenter Technology Corporation (NYSE:CRS) – Stock analysts at KeyCorp issued their FY2027 earnings per share (EPS) estimates for Carpenter Technology in a note issued to investors on Sunday, October 25th. KeyCorp analyst S. Mckinney forecasts that the basic materials company will post earnings of $13.45 per share for the year. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $13.34 per share.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.21. The firm had revenue of $634.80 million for the quarter, compared to the consensus estimate of $830.85 million. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 EPS.

Other analysts also recently issued research reports about the stock. BTIG Research cut their price target on shares of Carpenter Technology from $620.00 to $470.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Susquehanna reissued a “positive” rating and issued a $450.00 price objective on shares of Carpenter Technology in a research note on Friday. Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Finally, Wells Fargo & Company cut their target price on Carpenter Technology from $540.00 to $430.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $476.43.

Carpenter Technology Price Performance

CRS stock opened at $288.63 on Wednesday. Carpenter Technology has a 12 month low of $273.45 and a 12 month high of $625.98. The company’s 50-day moving average price is $414.30 and its two-hundred day moving average price is $443.00.

Hedge Funds Weigh In On Carpenter Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kinetic Partners Management LP bought a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $19,122,000. Sanctuary Advisors LLC bought a new position in shares of Carpenter Technology in the second quarter valued at approximately $2,978,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Carpenter Technology in the second quarter valued at approximately $3,095,000. SteelPeak Wealth LLC bought a new position in shares of Carpenter Technology in the first quarter valued at approximately $2,593,000. Finally, Handelsbanken Fonder AB increased its position in shares of Carpenter Technology by 21.4% during the second quarter. Handelsbanken Fonder AB now owns 17,240 shares of the basic materials company’s stock valued at $10,634,000 after acquiring an additional 3,040 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Insider Transactions at Carpenter Technology

In other news, Director Steven Karol sold 3,275 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $474.08, for a total value of $1,552,612.00. Following the completion of the transaction, the director owned 177,000 shares of the company’s stock, valued at approximately $83,912,160. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Thene sold 57,456 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total transaction of $27,802,958.40. Following the completion of the sale, the chief executive officer owned 439,631 shares in the company, valued at approximately $212,737,440.90. The trade was a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 112,996 shares of company stock valued at $54,644,436. 2.90% of the stock is currently owned by insiders.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Tuesday, October 20th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $0.80 annualized dividend and a yield of 0.3%.

About Carpenter Technology

Carpenter Technology Corporation is a manufacturer of premium specialty metals and engineered materials for demanding applications. The company produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, stress, and wear.

Its products are used in aerospace and defense, medical devices, energy, transportation, industrial equipment, and other specialized markets. Carpenter Technology supplies materials in forms such as bar, wire, strip, sheet, and powder, and also provides processing and engineered component solutions through its performance-engineered products operations.

Founded in 1889 as Carpenter Steel Company, the company has developed a global customer base supported by manufacturing, research, and service operations in the United States and international markets.