Carpenter Technology Corp. (NYSE:CRS) – Equities researchers at KeyCorp raised their Q1 2017 earnings per share (EPS) estimates for Carpenter Technology Corp. in a report released on Monday. KeyCorp analyst P. Gibbs now forecasts that the firm will post earnings of $0.20 per share for the quarter, up from their prior forecast of $0.19.
Several other analysts also recently weighed in on CRS. Rosenblatt Securities reissued a “buy” rating and set a $42.00 target price on shares of Carpenter Technology Corp. in a research report on Friday, July 8th. Zacks Investment Research raised shares of Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, July 18th. Finally, Seaport Global Securities started coverage on shares of Carpenter Technology Corp. in a research report on Friday, September 9th. They set a “neutral” rating and a $38.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Carpenter Technology Corp. presently has an average rating of “Hold” and a consensus target price of C$37.80.
Shares of Carpenter Technology Corp. (NYSE:CRS) opened at 41.99 on Wednesday. The stock has a market capitalization of $1.96 billion, a PE ratio of 182.57 and a beta of 1.97. Carpenter Technology Corp. has a 52 week low of $23.99 and a 52 week high of $42.25. The stock has a 50 day moving average of $37.38 and a 200-day moving average of $35.32.
Carpenter Technology Corp. (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm earned $457.70 million during the quarter, compared to analysts’ expectations of $454 million. Carpenter Technology Corp. had a net margin of 0.63% and a return on equity of 4.66%. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 23rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.71%. The ex-dividend date was Friday, August 19th. Carpenter Technology Corp.’s payout ratio is 327.27%.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of Carpenter Technology Corp. stock in a transaction that occurred on 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 directly owns 12,613 shares in the company, valued at approximately C$489,132.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CRS. Tower Research Capital LLC TRC boosted 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 valued at $124,000 after buying an additional 2,569 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in 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 valued at $159,000 after buying an additional 632 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Carpenter Technology Corp. during the second quarter valued at about $176,000. Advisor Group Inc. purchased a new position in Carpenter Technology Corp. during the second quarter valued at about $197,000. Finally, Teacher Retirement System of Texas boosted its position in Carpenter Technology Corp. by 8.6% in the second quarter. Teacher Retirement System of Texas now owns 6,516 shares of the company’s stock valued at $215,000 after buying an additional 515 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.
About Carpenter Technology Corp.
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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