Equities analysts expect Carpenter Technology Co. (NYSE:CRS) to announce earnings per share (EPS) of $0.58 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Carpenter Technology’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.55. Carpenter Technology posted earnings per share of $0.44 in the same quarter last year, which suggests a positive year over year growth rate of 31.8%. The firm is expected to issue its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Carpenter Technology will report full-year earnings of $2.32 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.46. For the next year, analysts expect that the business will report earnings of $3.29 per share, with EPS estimates ranging from $2.95 to $3.74. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Carpenter Technology.
Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. The firm had revenue of $487.80 million during the quarter, compared to the consensus estimate of $482.20 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year.
CRS has been the subject of a number of research reports. Cowen reaffirmed a “hold” rating and set a $53.00 target price on shares of Carpenter Technology in a report on Sunday, December 10th. Zacks Investment Research downgraded Carpenter Technology from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.67.
A number of large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Carpenter Technology by 4.7% in the third quarter. Bank of New York Mellon Corp now owns 1,729,163 shares of the basic materials company’s stock valued at $83,050,000 after acquiring an additional 77,824 shares during the period. Royce & Associates LP lifted its holdings in Carpenter Technology by 5.4% in the fourth quarter. Royce & Associates LP now owns 817,195 shares of the basic materials company’s stock valued at $41,669,000 after acquiring an additional 41,903 shares during the period. Ameriprise Financial Inc. lifted its holdings in Carpenter Technology by 0.9% in the third quarter. Ameriprise Financial Inc. now owns 687,169 shares of the basic materials company’s stock valued at $33,005,000 after acquiring an additional 6,413 shares during the period. Kennedy Capital Management Inc. lifted its holdings in Carpenter Technology by 466.4% in the fourth quarter. Kennedy Capital Management Inc. now owns 490,698 shares of the basic materials company’s stock valued at $25,021,000 after acquiring an additional 404,070 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in Carpenter Technology by 8.7% in the fourth quarter. Teachers Advisors LLC now owns 477,996 shares of the basic materials company’s stock valued at $24,373,000 after acquiring an additional 38,129 shares during the period. 98.29% of the stock is owned by institutional investors.
Shares of Carpenter Technology stock traded down $1.40 on Wednesday, reaching $42.72. 241,063 shares of the stock were exchanged, compared to its average volume of 450,544. The company has a quick ratio of 1.00, a current ratio of 2.99 and a debt-to-equity ratio of 0.41. Carpenter Technology has a twelve month low of $34.24 and a twelve month high of $54.61. The company has a market capitalization of $2,069.95, a price-to-earnings ratio of 40.85 and a beta of 2.02.
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About Carpenter Technology
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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