What is KeyCorp's Estimate for CRS FY2025 Earnings?

Carpenter Technology Co. (NYSE:CRS - Free Report) - Research analysts at KeyCorp increased their FY2025 EPS estimates for shares of Carpenter Technology in a research note issued on Tuesday, April 22nd. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $7.20 for the year, up from their previous forecast of $6.40. The consensus estimate for Carpenter Technology's current full-year earnings is $6.83 per share. KeyCorp also issued estimates for Carpenter Technology's FY2026 earnings at $8.90 EPS.

Several other equities research analysts also recently commented on CRS. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research report on Friday, January 31st. Finally, Northcoast Research raised shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $168.00.

Carpenter Technology Stock Down 1.9 %

Shares of NYSE:CRS traded down $3.78 during midday trading on Friday, hitting $193.66. 223,549 shares of the company's stock were exchanged, compared to its average volume of 751,995. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The stock has a 50 day moving average price of $182.95 and a 200-day moving average price of $182.27. The company has a market cap of $9.67 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. Carpenter Technology has a 12 month low of $82.46 and a 12 month high of $213.66.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.14. The firm had revenue of $727.00 million for the quarter, compared to the consensus estimate of $729.67 million. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 earnings per share.

Carpenter Technology declared that its board has authorized a share buyback plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to repurchase up to 4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's payout ratio is 11.33%.

Institutional Investors Weigh In On Carpenter Technology

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Carpenter Technology by 28.3% during the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company's stock valued at $754,295,000 after acquiring an additional 979,313 shares during the period. Invesco Ltd. grew its position in shares of Carpenter Technology by 30.3% during the 4th quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company's stock valued at $260,884,000 after acquiring an additional 357,417 shares during the period. SurgoCap Partners LP grew its position in shares of Carpenter Technology by 117.6% during the 4th quarter. SurgoCap Partners LP now owns 1,442,069 shares of the basic materials company's stock valued at $244,734,000 after acquiring an additional 779,357 shares during the period. Geode Capital Management LLC grew its position in shares of Carpenter Technology by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock valued at $193,279,000 after acquiring an additional 38,411 shares during the period. Finally, Third Point LLC grew its position in shares of Carpenter Technology by 31.8% during the 4th quarter. Third Point LLC now owns 870,000 shares of the basic materials company's stock valued at $147,648,000 after acquiring an additional 210,000 shares during the period. 92.03% of the stock is owned by institutional investors.

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.