Carpenter Technology (CRS) to Release Quarterly Earnings on Thursday

Carpenter Technology (NYSE:CRSGet Rating) is set to post its quarterly earnings results before the market opens on Thursday, April 28th. Analysts expect Carpenter Technology to post earnings of ($0.31) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Carpenter Technology (NYSE:CRSGet Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The basic materials company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.05. The company had revenue of $396.00 million for the quarter, compared to analyst estimates of $348.33 million. Carpenter Technology had a negative net margin of 9.11% and a negative return on equity of 5.96%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.61) EPS. On average, analysts expect Carpenter Technology to post $-1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of NYSE CRS opened at $43.16 on Thursday. The company has a quick ratio of 1.73, a current ratio of 3.55 and a debt-to-equity ratio of 0.52. Carpenter Technology has a 52-week low of $26.84 and a 52-week high of $49.20. The stock has a 50 day moving average price of $39.12. The firm has a market cap of $2.08 billion, a P/E ratio of -14.78 and a beta of 1.78.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 3rd. Investors of record on Tuesday, February 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, January 31st. Carpenter Technology’s dividend payout ratio (DPR) is currently -27.21%.

Several research analysts recently weighed in on CRS shares. StockNews.com initiated coverage on shares of Carpenter Technology in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Benchmark boosted their price target on Carpenter Technology from $43.00 to $48.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised Carpenter Technology from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $53.00 in a research report on Friday, February 11th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Carpenter Technology in the 4th quarter valued at about $10,842,000. Barclays PLC grew its holdings in shares of Carpenter Technology by 59.9% in the 4th quarter. Barclays PLC now owns 62,665 shares of the basic materials company’s stock worth $1,829,000 after acquiring an additional 23,469 shares during the period. BlackRock Inc. grew its holdings in Carpenter Technology by 3.3% during the 4th quarter. BlackRock Inc. now owns 7,798,106 shares of the basic materials company’s stock valued at $227,628,000 after buying an additional 249,578 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Carpenter Technology by 126.5% in the fourth quarter. Wells Fargo & Company MN now owns 41,758 shares of the basic materials company’s stock valued at $1,219,000 after purchasing an additional 23,322 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Carpenter Technology by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 66,455 shares of the basic materials company’s stock valued at $1,940,000 after purchasing an additional 1,240 shares during the period. 89.94% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Company Profile (Get Rating)

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through 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.

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Earnings History for Carpenter Technology (NYSE:CRS)

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