Carpenter Technology Co. (NYSE:CRS) has been given a consensus rating of “Hold” by the six analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $55.33.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Monday, August 6th. Deutsche Bank set a $50.00 target price on Carpenter Technology and gave the company a “hold” rating in a research report on Thursday, October 25th. Finally, ValuEngine cut Carpenter Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th.
Shares of NYSE:CRS opened at $41.28 on Friday. Carpenter Technology has a 52-week low of $41.01 and a 52-week high of $61.49. The company has a market capitalization of $2.08 billion, a P/E ratio of 15.88 and a beta of 2.05. The company has a current ratio of 3.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.09). Carpenter Technology had a return on equity of 9.03% and a net margin of 8.74%. The firm had revenue of $572.40 million during the quarter, compared to the consensus estimate of $559.00 million. During the same period last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities research analysts predict that Carpenter Technology will post 3.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Tuesday, October 23rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 22nd. This represents a $0.80 annualized dividend and a yield of 1.94%. Carpenter Technology’s dividend payout ratio (DPR) is presently 32.00%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in Carpenter Technology by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 32,582 shares of the basic materials company’s stock valued at $1,713,000 after acquiring an additional 884 shares in the last quarter. Legal & General Group Plc boosted its position in Carpenter Technology by 1.7% during the 1st quarter. Legal & General Group Plc now owns 63,529 shares of the basic materials company’s stock valued at $2,803,000 after acquiring an additional 1,051 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Carpenter Technology by 3.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 40,231 shares of the basic materials company’s stock valued at $2,115,000 after acquiring an additional 1,266 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in Carpenter Technology by 4.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 31,374 shares of the basic materials company’s stock valued at $1,849,000 after acquiring an additional 1,329 shares in the last quarter. Finally, Stanley Laman Group Ltd. boosted its position in Carpenter Technology by 1.9% during the 2nd quarter. Stanley Laman Group Ltd. now owns 86,561 shares of the basic materials company’s stock valued at $4,551,000 after acquiring an additional 1,598 shares in the last quarter. 94.64% of the stock is currently owned by institutional investors and hedge funds.
Carpenter Technology Company Profile
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.
Featured Story: Balance Sheet
Receive News & Ratings for Carpenter Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology and related companies with MarketBeat.com's FREE daily email newsletter.