Stock research analysts predict that Carpenter Technologies Co. (NISE: CRS - Get Rating) announces sales of $ 490.30 million for the current quarter, Zacks Investment Research reports. Two analysts published estimates of Carpenter Technology’s earnings, with the lowest sales estimate being $ 455.00 million and the highest being $ 525.60 million. Carpenter Technologies achieved sales of $ 421.60 million in the same quarter last year, which would suggest a positive growth rate of 16.3% compared to the previous year. The company is expected to announce the following earnings results on Monday, January 1st.
According to Zacks, analysts expect Carpenter Technologies to report full-year sales of $ 1.76 billion for the current fiscal year, with estimates ranging from $ 1.73 to $ 1.80 billion. For next year, analysts predict that the company will have sales of 2.21 billion dollars, with estimates ranging from 2.20 to 2.23 billion dollars. Zacks’ sales calculations are averaged on the basis of a survey of research firms monitored by Carpenter Technologies.
Carpenter Technologies (NISE: CRS - Get Rating) last released its quarterly earnings data on Thursday, April 28th. The Basic Materials Company reported ($ 0.20) EPS for the quarter, beating the consensus estimate of ($ 0.27) by $ 0.07. Carpenter Technologi had a negative net margin of 6.42% and a negative return on equity of 4.77%. The business had revenue of $ 489.00 million for the quarter, compared to analysts’ estimates of $ 415.67 million. In the same period last year, the company earned ($ 0.54) EPS. Operating income in this quarter increased by 39.0% compared to the same quarter last year.
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Several brokerage houses have recently joined the CRS. Benchmark raised its target price for shares of Carpenter Technology from $ 43.00 to $ 48.00 in a research note on Wednesday, April 20th. JPMorgan Chase & Co. raised Carpenter Technologies’ shares from a “neutral” rating to a “too heavy” rating and raised the target price for the company from $ 52.00 to $ 53.00 in a research note on Friday, February 11th. Finally, StockNevs.com raised Carpenter Technologies’ shares from a “sales” rating to a “hold” rating in a research note on Monday, May 16.
Hedge funds and other institutional investors have recently modified their ownership of the business. Toth Financial Advisors Corp. increased its stake in Carpenter Technology by 25.8% during the first quarter. Toth Financial Advisors Corp. now owns 1,394 shares of the company’s stock for basic materials worth $ 59,000 after buying an additional 286 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Carpenter Technology by 5.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,955 shares of the company’s stock for basic materials worth $ 292,000 after purchasing an additional 372 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Carpenter Technology by 1.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 43,358 shares of the company’s stock for basic materials worth $ 1,871,000 after buying an additional 412 shares during the period. Stifel Financial Corp. increased its position in Carpenter Technology by 2.5% during the 4th quarter. Stifel Financial Corp. now owns 17,452 shares of the company’s stock for basic materials worth $ 509,000 after buying an additional 419 shares during the period. Finally, the state and pension system of the state of Maryland increased its position in Carpenter Technology by 2.3% during the 1st quarter. The state pension and pension system of Maryland now owns 19,491 shares of the company’s stock for basic materials worth $ 818,000 after buying an additional 444 shares during the period. 91.36% of the shares are currently owned by hedge funds and other institutional investors.
Shares of CRS opened for $ 36.11 on Friday. The firm has a 50-day moving average price of $ 38.51 and a 200-day moving average price of $ 34.52. Carpenter Technologies has the lowest value in twelve months of $ 26.84 and the highest of $ 49.20. The company has a market capitalization of 1.74 billion dollars, a price-earnings ratio of -15.98 and a beta of 1.72. The company has a current ratio of 2.21, a fast ratio of 1.38 and a debt-to-equity ratio of 0.51.
The company also recently announced a three-month dividend, which will be paid on Thursday, June 2. A record dividend of $ 0.20 per share will be paid to record shareholders on Tuesday, May 3. This represents a dividend of $ 0.80 per year and a dividend yield of 2.22%. The date of the former dividend is Monday, May 2. Carpenter Technology’s dividend payout ratio (DPR) is currently -35.40%.
About Carpenter Technology (Get a rating)
Carpenter Technology Corporation manufactures, manufactures and distributes special metals worldwide. It operates through two segments, special alloy operations and performance-designed products. The company offers special 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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