Zacks Research Issues Positive Estimate for CRS Earnings

Key Points

• Zacks Research raised its earnings estimates for Carpenter Technology, including Q1 2027 EPS to $2.91 from $2.89 and FY2027 EPS to $12.80. The firm maintained a “Strong-Buy” rating and projects FY2029 EPS of $18.44.
• Carpenter Technology recently reported quarterly EPS of $3.23, beating consensus by $0.14, while revenue increased 12.6% year over year to $679.7 million.
• CRS has a consensus “Buy” rating with an average price target of $577.25, but insiders have sold approximately $53.1 million of shares over the past 90 days. Institutional investors own 92.03% of the stock.

Carpenter Technology Corporation (NYSE:CRS - Free Report) - Research analysts at Zacks Research lifted their Q1 2027 earnings per share (EPS) estimates for Carpenter Technology in a report released on Friday, August 28th. Zacks Research analyst Team now expects that the basic materials company will post earnings of $2.91 per share for the quarter, up from their prior estimate of $2.89. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Carpenter Technology's current full-year earnings is $13.09 per share. Zacks Research also issued estimates for Carpenter Technology's Q2 2027 earnings at $2.98 EPS, Q3 2027 earnings at $3.34 EPS, Q4 2027 earnings at $3.58 EPS, FY2027 earnings at $12.80 EPS, Q1 2028 earnings at $3.37 EPS, Q2 2028 earnings at $3.55 EPS, Q3 2028 earnings at $3.99 EPS, Q4 2028 earnings at $4.16 EPS, FY2028 earnings at $15.08 EPS and FY2029 earnings at $18.44 EPS.

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

A number of other equities research analysts have also recently commented on the company. Susquehanna lowered their target price on Carpenter Technology from $680.00 to $600.00 and set a "positive" rating on the stock in a report on Friday, July 31st. Wells Fargo & Company boosted their price target on Carpenter Technology from $425.00 to $540.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 4th. Wall Street Zen cut Carpenter Technology from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. TD Cowen upped their price objective on Carpenter Technology from $470.00 to $650.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Finally, KeyCorp decreased their price objective on Carpenter Technology from $644.00 to $608.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $577.25.

Carpenter Technology Stock Up 0.2%

CRS stock opened at $477.32 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23. Carpenter Technology has a 12 month low of $228.00 and a 12 month high of $625.98. The firm has a market capitalization of $23.66 billion, a PE ratio of 45.37, a P/E/G ratio of 1.71 and a beta of 1.25. The company's 50 day simple moving average is $557.70 and its 200-day simple moving average is $474.39.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP grew its holdings in Carpenter Technology by 267.9% in the second quarter. Corient Private Wealth LP now owns 6,858 shares of the basic materials company's stock valued at $4,230,000 after purchasing an additional 4,994 shares during the period. Optimize Financial Inc. purchased a new position in Carpenter Technology during the second quarter worth approximately $299,000. Wellington Grp LLC boosted its holdings in shares of Carpenter Technology by 36.5% in the 2nd quarter. Wellington Grp LLC now owns 2,066 shares of the basic materials company's stock valued at $1,274,000 after purchasing an additional 552 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Carpenter Technology by 27.1% in the 2nd quarter. HighTower Advisors LLC now owns 19,086 shares of the basic materials company's stock valued at $11,773,000 after purchasing an additional 4,073 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Carpenter Technology during the 2nd quarter valued at $7,699,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carpenter Technology news, Director Ramin Younessi sold 438 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $493.15, for a total transaction of $215,999.70. Following the transaction, the director owned 1,953 shares of the company's stock, valued at $963,121.95. This represents a 18.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $483.90, for a total value of $27,802,958.40. Following the sale, the chief executive officer owned 439,631 shares in the company, valued at $212,737,440.90. This trade represents a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 109,721 shares of company stock worth $53,091,824. 2.90% of the stock is owned by company insiders.

Carpenter Technology Dividend Announcement

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

Key Stories Impacting Carpenter Technology

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2027 EPS to $12.80 from $12.75, FY2028 EPS to $15.08 from $14.99, and FY2029 EPS to $18.44 from $18.31. Quarterly estimates for 2027 and 2028 were also increased by $0.01 to $0.03 per share, signaling improving expectations for Carpenter Technology’s future profitability.
• Positive Sentiment: Zacks Research maintained a “Strong-Buy” rating on CRS. Its forecasts imply continued earnings growth beyond the current fiscal year, with FY2029 EPS projected well above the current-year consensus estimate of $13.08.
• Neutral Sentiment: The revisions were incremental rather than major changes to the earnings outlook. With CRS trading at a relatively elevated forward valuation after a strong 12-month advance, investors may be taking profits or demanding stronger near-term catalysts before bidding the shares higher.

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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