Carpenter Technology Corporation (NYSE:CRS – Free Report) – Stock analysts at Zacks Research raised their Q3 2027 earnings per share estimates for shares of Carpenter Technology in a research note issued to investors on Thursday, November 12th. Zacks Research analyst Team now forecasts that the basic materials company will post earnings of $3.41 per share for the quarter, up from their prior forecast of $3.34. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $13.41 per share. Zacks Research also issued estimates for Carpenter Technology’s Q4 2027 earnings at $3.65 EPS, FY2027 earnings at $13.20 EPS, Q1 2028 earnings at $3.40 EPS, Q3 2028 earnings at $4.10 EPS, Q4 2028 earnings at $4.35 EPS, FY2028 earnings at $15.34 EPS, Q1 2029 earnings at $4.20 EPS and FY2029 earnings at $18.87 EPS.
A number of other equities analysts also recently commented on CRS. Wall Street Zen upgraded Carpenter Technology from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Weiss Ratings lowered Carpenter Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, November 4th. Wells Fargo & Company cut their price target on shares of Carpenter Technology from $540.00 to $430.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. KeyCorp downgraded shares of Carpenter Technology from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 26th. Finally, TD Cowen reduced their price objective on shares of Carpenter Technology from $650.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average target price of $476.43.
Carpenter Technology Trading Down 1.7%
NYSE CRS opened at $299.60 on Friday. The stock has a market cap of $14.84 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43. Carpenter Technology has a fifty-two week low of $270.49 and a fifty-two week high of $625.98. The stock has a 50 day simple moving average of $367.48 and a two-hundred day simple moving average of $440.63. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.05 and a current ratio of 3.94.
Carpenter Technology (NYSE:CRS – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.21. Carpenter Technology had a return on equity of 27.50% and a net margin of 17.87%. The business had revenue of $634.80 million during the quarter, compared to analyst estimates of $830.85 million. During the same quarter in the prior year, the company posted $2.43 EPS. Carpenter Technology’s quarterly revenue was up 8.8% compared to the same quarter last year.
Institutional Trading of Carpenter Technology
A number of hedge funds have recently modified their holdings of CRS. Keating Financial Advisory Services Inc. purchased a new stake in shares of Carpenter Technology in the 2nd quarter worth about $29,000. Provenance Wealth Advisors LLC bought a new position in shares of Carpenter Technology in the 3rd quarter worth about $30,000. Persistent Asset Partners Ltd bought a new position in shares of Carpenter Technology in the 2nd quarter worth about $55,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Carpenter Technology during the 2nd quarter valued at about $56,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Carpenter Technology during the 2nd quarter valued at about $56,000. Institutional investors own 92.03% of the company’s stock.
Insider Activity at Carpenter Technology
In other Carpenter Technology news, Director Steven E. Karol sold 3,275 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $474.08, for a total value of $1,552,612.00. Following the completion of the transaction, the director owned 177,000 shares in the company, valued at approximately $83,912,160. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony R. Thene sold 57,456 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total value of $27,802,958.40. Following the transaction, the chief executive officer directly owned 439,631 shares of the company’s stock, valued at $212,737,440.90. This represents a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 112,996 shares of company stock worth $54,644,436 over the last ninety days. 2.90% of the stock is owned by corporate insiders.
Carpenter Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Tuesday, October 20th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 20th. This represents a $0.80 annualized dividend and a dividend yield of 0.3%. Carpenter Technology’s payout ratio is currently 7.05%.
Carpenter Technology Company Profile
Carpenter Technology Corporation develops, manufactures and distributes specialty alloys and engineered materials for applications that require high performance in demanding environments. Its products include specialty steels, nickel- and cobalt-based alloys, titanium alloys, and precision-engineered components. The company serves customers in industries including aerospace and defense, medical, energy, transportation and industrial manufacturing. Its materials are used in products and equipment where strength, heat resistance, corrosion resistance or other specialized properties are important.
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