Research Analysts Set Expectations for CRS FY2028 Earnings

Carpenter Technology Corporation (NYSE:CRS) – Zacks Research increased their FY2028 EPS estimates for Carpenter Technology in a research note issued on Thursday, January 8th. Zacks Research analyst Team now forecasts that the basic materials company will post earnings per share of $13.96 for the year, up from their prior estimate of $13.92. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $6.83 per share.

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

CRS has been the subject of a number of other research reports. Cowen reaffirmed a “buy” rating on shares of Carpenter Technology in a report on Friday, November 14th. BTIG Research upped their price objective on Carpenter Technology from $305.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, October 27th. KeyCorp raised Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 price objective for the company in a research note on Thursday, November 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Carpenter Technology in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $371.14.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $328.41 on Monday. The firm has a fifty day simple moving average of $321.33 and a two-hundred day simple moving average of $281.16. Carpenter Technology has a 52 week low of $138.61 and a 52 week high of $348.99. The company has a quick ratio of 2.37, a current ratio of 4.44 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.36 billion, a P/E ratio of 40.15, a PEG ratio of 1.37 and a beta of 1.29.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Carpenter Technology by 10.1% during the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company’s stock valued at $514,687,000 after buying an additional 192,533 shares in the last quarter. SurgoCap Partners LP increased its position in shares of Carpenter Technology by 29.5% during 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 period. Ameriprise Financial Inc. raised its stake in shares of Carpenter Technology by 20.5% during the third quarter. Ameriprise Financial Inc. now owns 631,088 shares of the basic materials company’s stock valued at $154,840,000 after acquiring an additional 107,552 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Carpenter Technology by 111.6% during the third quarter. Qube Research & Technologies Ltd now owns 617,948 shares of the basic materials company’s stock valued at $151,731,000 after acquiring an additional 325,919 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Carpenter Technology by 5.8% in the third quarter. Barclays PLC now owns 591,981 shares of the basic materials company’s stock valued at $145,355,000 after purchasing an additional 32,645 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Insider Activity at Carpenter Technology

In related news, VP Elizabeth A. Socci sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $321.25, for a total transaction of $1,252,875.00. Following the completion of the sale, the vice president directly owned 9,594 shares of the company’s stock, valued at approximately $3,082,072.50. This trade represents a 28.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian J. Malloy sold 4,130 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $303.52, for a total value of $1,253,537.60. Following the completion of the transaction, the chief operating officer directly owned 78,875 shares in the company, valued at $23,940,140. This trade represents a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 79,358 shares of company stock worth $24,254,008. Company insiders own 2.90% of the company’s stock.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.