CRS Stock Earnings Estimates Increased by Zacks Research

Key Points

• Zacks Research raised its Q3 2027 EPS estimate for Carpenter Technology to $3.41 from $3.34, while maintaining a Hold rating.
• Analyst views are mixed: several firms cut price targets, but the stock has a consensus “Moderate Buy” rating and an average target of $476.43.
• In its latest reported quarter, Carpenter Technology earned $3.25 per share, beating estimates of $3.04, while revenue of $634.8 million fell short of analysts’ $830.85 million forecast.

Carpenter Technology Corporation (NYSE:CRS - Free Report) - Investment analysts at Zacks Research boosted their Q3 2027 earnings per share (EPS) estimates for Carpenter Technology in a report released on Thursday, November 12th. Zacks Research analyst Team now anticipates that the basic materials company will post earnings per share of $3.41 for the quarter, up from their prior forecast of $3.34. Zacks Research currently 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 research analysts have also weighed in on the company. JPMorgan Chase & Co. reduced their target price on Carpenter Technology from $700.00 to $520.00 and set an "overweight" rating for the company in a report on Wednesday, October 14th. BTIG Research lowered their price target on shares of Carpenter Technology from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. Wells Fargo & Company lowered 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 lowered shares of Carpenter Technology from an "overweight" rating to a "sector weight" rating in a research report on Monday, October 26th. Finally, Wall Street Zen raised shares of Carpenter Technology from a "hold" rating to a "buy" rating in a research note on Saturday, October 24th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $476.43.

Carpenter Technology Stock Down 1.7%

Shares of NYSE CRS opened at $299.60 on Friday. Carpenter Technology has a 52 week low of $270.49 and a 52 week high of $625.98. The business 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 quick ratio of 2.05, a current ratio of 3.94 and a debt-to-equity ratio of 0.32. The company has a market cap of $14.84 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.08 and a beta of 1.43.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $3.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.21. The company had revenue of $634.80 million for the quarter, compared to analyst estimates of $830.85 million. Carpenter Technology had a return on equity of 27.50% and a net margin of 17.87%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.43 EPS.

Institutional Trading of Carpenter Technology

A number of large investors have recently modified their holdings of CRS. Xcelsior Advisor Partners LLC purchased a new position in shares of Carpenter Technology in the third quarter worth $201,000. Polymer Capital Management US LLC raised its holdings in Carpenter Technology by 96.6% during the 3rd quarter. Polymer Capital Management US LLC now owns 2,314 shares of the basic materials company's stock valued at $900,000 after buying an additional 1,137 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Carpenter Technology during the 3rd quarter valued at $2,448,000. Gabelli Funds LLC boosted its position in Carpenter Technology by 1.0% during the 3rd quarter. Gabelli Funds LLC now owns 11,103 shares of the basic materials company's stock valued at $4,317,000 after buying an additional 108 shares during the period. Finally, AlphaGrep UK Ltd boosted its position in Carpenter Technology by 182.5% during the 3rd quarter. AlphaGrep UK Ltd now owns 1,630 shares of the basic materials company's stock valued at $634,000 after buying an additional 1,053 shares during the period. Institutional investors own 92.03% of the company's stock.

Insider Buying and Selling

In related news, Director Steven E. Karol sold 3,275 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $474.08, for a total transaction of $1,552,612.00. Following the completion of the transaction, the director directly owned 177,000 shares in the company, valued at $83,912,160. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony R. Thene sold 57,456 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $483.90, for a total value of $27,802,958.40. Following the completion of the transaction, the chief executive officer owned 439,631 shares in the company, valued at $212,737,440.90. This represents a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 112,996 shares of company stock worth $54,644,436. Corporate insiders own 2.90% of the company's stock.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Tuesday, October 20th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, October 20th. Carpenter Technology's dividend payout ratio (DPR) is 7.05%.

About Carpenter Technology

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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