Carpenter Technology Co. Expected to Earn FY2024 Earnings of $3.91 Per Share (NYSE:CRS)

Carpenter Technology Co. (NYSE:CRS) – Research analysts at Zacks Research lifted their FY2024 earnings estimates for Carpenter Technology in a research report issued on Friday, April 26th. Zacks Research analyst S. Deb now forecasts that the basic materials company will post earnings of $3.91 per share for the year, up from their prior forecast of $3.90. The consensus estimate for Carpenter Technology’s current full-year earnings is $3.97 per share. Zacks Research also issued estimates for Carpenter Technology’s Q3 2025 earnings at $1.09 EPS, FY2025 earnings at $4.21 EPS, Q1 2026 earnings at $1.00 EPS, Q2 2026 earnings at $0.97 EPS, Q3 2026 earnings at $1.18 EPS and FY2026 earnings at $4.55 EPS.

Carpenter Technology Trading Up 2.8 %

CRS stock opened at $84.00 on Monday. The company’s 50-day simple moving average is $71.13 and its 200-day simple moving average is $68.07. The company has a quick ratio of 1.26, a current ratio of 2.90 and a debt-to-equity ratio of 0.47. Carpenter Technology has a 52-week low of $44.40 and a 52-week high of $84.03. The firm has a market cap of $4.15 billion, a P/E ratio of 29.07 and a beta of 1.56.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 25th. The basic materials company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $669.56 million. Carpenter Technology had a net margin of 5.27% and a return on equity of 10.21%.

Carpenter Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $0.20 per share. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, April 22nd. Carpenter Technology’s dividend payout ratio is presently 27.68%.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds have recently modified their holdings of the company. Cape Investment Advisory Inc. acquired a new position in shares of Carpenter Technology during the 4th quarter worth about $29,000. Johnson Financial Group Inc. acquired a new position in shares of Carpenter Technology during the 4th quarter worth about $31,000. Westend Capital Management LLC acquired a new position in shares of Carpenter Technology during the 1st quarter worth about $36,000. Fifth Third Bancorp raised its position in shares of Carpenter Technology by 322.5% during the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 887 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Carpenter Technology during the 3rd quarter worth about $91,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Company Profile

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.