Carpenter Technology Corp. (NYSE:CRS) has been assigned a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating. Carpenter Technology Corp.’s rating score has declined by 20% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokers have set a twelve-month consensus price objective of $36.50 for the company and are expecting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Carpenter Technology Corp. an industry rank of 109 out of 265 based on the ratings given to related companies.
A number of equities analysts have commented on CRS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $42.00 price objective on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Zacks Investment Research lowered shares of Carpenter Technology Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Seaport Global Securities initiated coverage on shares of Carpenter Technology Corp. in a research note on Friday, September 9th. They issued a “neutral” rating and a $38.00 target price on the stock.
In related news, Director Gregory A. Pratt sold 10,358 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of C$38.78, for a total transaction of C$401,683.24. Following the completion of the sale, the director now owns 12,613 shares of the company’s stock, valued at approximately C$489,132.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in shares of Carpenter Technology Corp. by 215.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,759 shares of the company’s stock worth $124,000 after buying an additional 2,569 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Carpenter Technology Corp. by 15.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,829 shares of the company’s stock worth $159,000 after buying an additional 632 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Carpenter Technology Corp. during the second quarter worth $176,000. Amalgamated Bank acquired a new stake in shares of Carpenter Technology Corp. during the second quarter worth $216,000. Finally, Advisor Group Inc. acquired a new stake in shares of Carpenter Technology Corp. during the second quarter worth $197,000. 95.90% of the stock is owned by institutional investors and hedge funds.
Shares of Carpenter Technology Corp. (NYSE:CRS) opened at 39.57 on Wednesday. The firm has a market cap of $1.84 billion, a P/E ratio of 172.04 and a beta of 1.97. Carpenter Technology Corp. has a 12 month low of $23.99 and a 12 month high of $40.46. The company has a 50-day moving average of $37.12 and a 200-day moving average of $35.11.
Carpenter Technology Corp. (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Carpenter Technology Corp. had a net margin of 0.63% and a return on equity of 4.66%. The firm had revenue of $457.70 million for the quarter, compared to analyst estimates of $454 million. During the same quarter in the previous year, the business posted $0.52 EPS. The firm’s revenue was down 18.0% compared to the same quarter last year. Equities analysts forecast that Carpenter Technology Corp. will post $1.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 23rd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, August 19th. Carpenter Technology Corp.’s dividend payout ratio is presently 327.27%.
Carpenter Technology Corp. Company Profile
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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