Carpenter Technology (CRS) Scheduled to Post Earnings on Thursday

Carpenter Technology (NYSE:CRS – Get Rating) will release its earnings data before the market opens on Thursday, January 26th. Analysts expect Carpenter Technology to post earnings of $0.12 per share for the quarter. Carpenter Technology has set its Q1 2023 guidance at -$0.16–$0.14 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Carpenter Technology (NYSE:CRS – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $522.90 million during the quarter, compared to analysts’ expectations of $558.00 million. Carpenter Technology had a negative net margin of 2.09% and a negative return on equity of 3.35%. On average, analysts expect Carpenter Technology to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Carpenter Technology Price Performance

Shares of NYSE CRS traded down $1.22 during midday trading on Tuesday, reaching $42.91. The stock had a trading volume of 669,156 shares, compared to its average volume of 338,824. The stock has a 50-day moving average of $40.32 and a 200-day moving average of $36.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 2.80. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -49.89 and a beta of 1.69. Carpenter Technology has a 12-month low of $24.76 and a 12-month high of $44.97.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Tuesday, January 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.86%. Carpenter Technology’s dividend payout ratio (DPR) is presently -93.02%.

Hedge Funds Weigh In On Carpenter Technology

Several institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its stake in Carpenter Technology by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 13,226 shares of the basic materials company’s stock valued at $369,000 after acquiring an additional 361 shares in the last quarter. Legal & General Group Plc grew its stake in Carpenter Technology by 0.3% during the second quarter. Legal & General Group Plc now owns 141,295 shares of the basic materials company’s stock valued at $3,943,000 after acquiring an additional 392 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Carpenter Technology by 1.0% during the first quarter. Great West Life Assurance Co. Can now owns 43,358 shares of the basic materials company’s stock valued at $1,871,000 after acquiring an additional 412 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Carpenter Technology by 8.4% in the 3rd quarter. Royal Bank of Canada now owns 7,925 shares of the basic materials company’s stock worth $247,000 after buying an additional 613 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Carpenter Technology in the 1st quarter worth $26,000. 92.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Thursday, December 8th.

Carpenter Technology Company Profile

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Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.