Brokers Set Expectations for CRS FY2029 Earnings

Key Points

• Zacks Research forecasts FY2029 EPS of $18.31 for Carpenter Technology, well above the current-year consensus estimate of $13.08, and maintains a “Strong-Buy” rating.
• Carpenter Technology reported quarterly EPS of $3.23, beating estimates of $3.09, while revenue increased 12.6% year over year to $679.7 million.
• Analyst sentiment remains broadly positive: the stock has an average “Buy” rating and a consensus price target of $577.25, supported by recent target increases from TD Cowen and BTIG Research.

Carpenter Technology Corporation (NYSE:CRS - Free Report) - Research analysts at Zacks Research issued their FY2029 earnings per share estimates for Carpenter Technology in a note issued to investors on Thursday, August 20th. Zacks Research analyst Team expects that the basic materials company will earn $18.31 per share for the year. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Carpenter Technology's current full-year earnings is $13.08 per share.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $3.09 by $0.14. The company had revenue of $679.70 million during the quarter, compared to the consensus estimate of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.Carpenter Technology's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share.

A number of other research firms also recently commented on CRS. TD Cowen boosted their price objective on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $500.00 price target on shares of Carpenter Technology in a research report on Thursday, April 30th. BTIG Research boosted their price target on Carpenter Technology from $450.00 to $620.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Weiss Ratings cut Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Carpenter Technology from $705.00 to $700.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Carpenter Technology currently has an average rating of "Buy" and a consensus target price of $577.25.

Carpenter Technology Stock Performance

Shares of CRS opened at $494.98 on Monday. The company has a 50-day simple moving average of $566.88 and a 200-day simple moving average of $469.73. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $24.53 billion, a PE ratio of 47.05, a P/E/G ratio of 1.77 and a beta of 1.25. Carpenter Technology has a 52-week low of $228.00 and a 52-week high of $625.98.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology's payout ratio is presently 7.60%.

Institutional Trading of Carpenter Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd grew its holdings in shares of Carpenter Technology by 334.3% during the fourth quarter. Covestor Ltd now owns 3,492 shares of the basic materials company's stock worth $1,099,000 after buying an additional 2,688 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Carpenter Technology during the second quarter valued at approximately $3,095,000. Peregrine Asset Advisers Inc. purchased a new position in shares of Carpenter Technology during the fourth quarter valued at approximately $4,062,000. SteelPeak Wealth LLC acquired a new stake in Carpenter Technology during the first quarter worth approximately $2,593,000. Finally, Brookstone Capital Management acquired a new stake in Carpenter Technology during the first quarter worth approximately $2,876,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Key Headlines Impacting Carpenter Technology

Here are the key news stories impacting Carpenter Technology this week:

• Positive Sentiment: Zacks raised its FY2027 EPS forecast to $12.75 from $12.12 and its FY2028 forecast to $14.99 from $14.49, signaling stronger anticipated profit growth. The firm also increased estimates for every listed quarter from Q1 2027 through Q4 2028. Carpenter Technology stock information
• Positive Sentiment: Individual quarterly revisions included Q1 2027 EPS rising to $2.89 from $2.83, Q2 2027 to $2.96 from $2.85, Q3 2027 to $3.33 from $3.19, and Q4 2027 to $3.57 from $3.25. Estimates for Q1 through Q4 2028 were also increased, with Q4 2028 moving to $4.14 from $4.00.
• Positive Sentiment: Zacks Research maintains a “Strong-Buy” rating on CRS, reinforcing the bullish interpretation of the revisions and suggesting confidence in Carpenter Technology’s longer-term earnings outlook.
• Neutral Sentiment: The revisions primarily affect fiscal 2027 and 2028, so they are forward-looking rather than a new report on current-quarter results. The current-year consensus EPS forecast remains $12.92.
• Neutral Sentiment: CRS remains valued at a relatively elevated trailing P/E of about 47, meaning continued gains may depend on the company delivering the projected earnings growth. The stock is also below its 50-day moving average but above its 200-day average.

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.

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