Carpenter Technology Co. (CRS) Forecasted to Earn Q2 2019 Earnings of $0.63 Per Share

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Carpenter Technology Co. (NYSE:CRS) – Analysts at KeyCorp dropped their Q2 2019 EPS estimates for shares of Carpenter Technology in a research report issued on Wednesday, January 16th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $0.63 per share for the quarter, down from their prior estimate of $0.65. KeyCorp also issued estimates for Carpenter Technology’s FY2019 earnings at $2.88 EPS and FY2020 earnings at $3.53 EPS.

A number of other brokerages have also commented on CRS. Cowen reissued a “buy” rating and set a $53.00 price objective on shares of Carpenter Technology in a report on Thursday, December 6th. Zacks Investment Research lowered Carpenter Technology from a “hold” rating to a “sell” rating in a report on Wednesday. Longbow Research raised Carpenter Technology from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, December 11th. ValuEngine lowered Carpenter Technology from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, Deutsche Bank set a $50.00 price objective on Carpenter Technology and gave the company a “hold” rating in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.00.

Shares of NYSE CRS opened at $43.58 on Friday. The company has a current ratio of 3.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.99 billion, a PE ratio of 17.43 and a beta of 2.17. Carpenter Technology has a 52 week low of $32.77 and a 52 week high of $61.49.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.09). The company had revenue of $572.40 million for the quarter, compared to analyst estimates of $559.00 million. Carpenter Technology had a net margin of 8.74% and a return on equity of 9.03%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS.

Large investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its stake in Carpenter Technology by 476.1% during the 3rd quarter. Captrust Financial Advisors now owns 2,656 shares of the basic materials company’s stock valued at $157,000 after purchasing an additional 2,195 shares during the period. Buckingham Asset Management LLC bought a new stake in Carpenter Technology during the 3rd quarter valued at approximately $205,000. D.A. Davidson & CO. bought a new stake in Carpenter Technology during the 3rd quarter valued at approximately $223,000. Jane Street Group LLC bought a new stake in Carpenter Technology during the 2nd quarter valued at approximately $220,000. Finally, Paloma Partners Management Co bought a new stake in Carpenter Technology during the 3rd quarter valued at approximately $287,000. Hedge funds and other institutional investors own 94.00% of the company’s stock.

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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Earnings History and Estimates for Carpenter Technology (NYSE:CRS)

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