FY2027 Earnings Forecast for CRS Issued By KeyCorp

Carpenter Technology Corporation (NYSE:CRS) – Research analysts at KeyCorp issued their FY2027 earnings per share estimates for Carpenter Technology in a report released on Wednesday, November 12th. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings of $12.65 per share for the year. KeyCorp has a “Overweight” rating and a $380.00 price objective on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $6.83 per share.

Other equities research analysts also recently issued reports about the stock. TD Cowen boosted their price target on shares of Carpenter Technology from $305.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $305.00 to $388.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft set a $425.00 target price on Carpenter Technology and gave the company a “buy” rating in a research report on Friday, October 24th. BTIG Research upped their price target on Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Cowen restated a “buy” rating on shares of Carpenter Technology in a research report on Friday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $371.14.

Carpenter Technology Trading Up 1.7%

NYSE CRS opened at $330.36 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.44 and a quick ratio of 2.37. The stock has a market capitalization of $16.46 billion, a P/E ratio of 40.39, a PEG ratio of 1.41 and a beta of 1.47. The firm’s 50-day moving average is $269.64 and its two-hundred day moving average is $256.73. Carpenter Technology has a 12 month low of $138.61 and a 12 month high of $342.11.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.30. The business had revenue of $733.70 million during the quarter, compared to analysts’ expectations of $741.18 million. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 EPS.

Institutional Investors Weigh In On Carpenter Technology

A number of hedge funds have recently bought and sold shares of CRS. Invesco Ltd. grew its position in shares of Carpenter Technology by 37.1% during the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock worth $381,869,000 after buying an additional 570,441 shares in the last quarter. Egerton Capital UK LLP acquired a new stake in Carpenter Technology in the first quarter valued at approximately $329,727,000. SurgoCap Partners LP lifted its stake in Carpenter Technology by 29.5% in the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock worth $294,377,000 after acquiring an additional 272,896 shares during the last quarter. Advent International L.P. lifted its stake in Carpenter Technology by 12.1% in the first quarter. Advent International L.P. now owns 804,832 shares of the basic materials company’s stock worth $145,819,000 after acquiring an additional 87,186 shares during the last quarter. Finally, Barclays PLC grew its holdings in Carpenter Technology by 5.8% during the 3rd quarter. Barclays PLC now owns 591,981 shares of the basic materials company’s stock worth $145,355,000 after acquiring an additional 32,645 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insiders Place Their Bets

In other Carpenter Technology news, Director Steven E. Karol sold 3,433 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $245.78, for a total value of $843,762.74. Following the completion of the transaction, the director owned 180,000 shares of the company’s stock, valued at $44,240,400. This trade represents a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tony R. Thene sold 19,000 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the completion of the transaction, the chief executive officer owned 535,019 shares of the company’s stock, valued at approximately $131,074,304.81. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,124 shares of company stock worth $6,890,250 in the last ninety days. 2.90% of the stock is owned by corporate insiders.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 21st. Carpenter Technology’s dividend payout ratio is presently 9.78%.

About Carpenter Technology

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.