Carpenter Technology Corporation (NYSE:CRS) Plans Quarterly Dividend of $0.20

Key Points

• Carpenter Technology Corporation announced a quarterly dividend of $0.20 per share to be paid on December 4th to stockholders of record as of October 21st, reflecting a dividend yield of 0.3%.
• The company has a low payout ratio of 8.8%, indicating that earnings sufficiently cover the dividend, with projected earnings of $8.08 per share for the upcoming year.
• Carpenter Technology reported earnings of $2.21 per share for the last quarter, exceeding estimates, but faced a year-over-year revenue decline of 5.4%.

Carpenter Technology Corporation (NYSE:CRS - Get Free Report) announced a quarterly dividend on Thursday, October 9th, RTT News reports. Stockholders of record on Tuesday, October 21st will be paid a dividend of 0.20 per share by the basic materials company on Thursday, December 4th. This represents a c) annualized dividend and a dividend yield of 0.3%.

Carpenter Technology has a payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carpenter Technology to earn $8.08 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.9%.

Carpenter Technology Trading Up 1.5%

NYSE CRS opened at $260.12 on Thursday. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $12.97 billion, a P/E ratio of 34.94, a P/E/G ratio of 1.16 and a beta of 1.46. Carpenter Technology has a 52-week low of $138.61 and a 52-week high of $290.84. The firm has a 50-day moving average price of $245.68 and a 200 day moving average price of $234.60.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.18. Carpenter Technology had a return on equity of 21.50% and a net margin of 13.07%.The company had revenue of $755.60 million for the quarter, compared to analysts' expectations of $790.73 million. During the same quarter in the previous year, the firm posted $1.82 EPS. The firm's quarterly revenue was down 5.4% on a year-over-year basis. Equities research analysts expect that Carpenter Technology will post 6.83 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.