Zacks Research Has Strong Forecast for CRS FY2027 Earnings

Carpenter Technology Co. (NYSE:CRS - Free Report) - Zacks Research raised their FY2027 EPS estimates for Carpenter Technology in a report issued on Tuesday, April 22nd. Zacks Research analyst S. Deb now anticipates that the basic materials company will post earnings per share of $9.22 for the year, up from their prior forecast of $9.21. The consensus estimate for Carpenter Technology's current full-year earnings is $6.83 per share.

Several other brokerages have also commented on CRS. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. 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 report on Monday. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $168.00.

Carpenter Technology Stock Down 1.2 %

CRS stock traded down $2.32 during mid-day trading on Wednesday, hitting $196.68. The stock had a trading volume of 348,206 shares, compared to its average volume of 751,857. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $183.39 and a 200 day moving average of $181.90. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 0.93 and a beta of 1.28. Carpenter Technology has a 1-year low of $82.46 and a 1-year high of $213.66.

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

Institutional Investors Weigh In On Carpenter Technology

A number of hedge funds have recently made changes to their positions in CRS. Kestra Investment Management LLC purchased a new position in shares of Carpenter Technology during the fourth quarter worth $25,000. Bessemer Group Inc. increased its position in shares of Carpenter Technology by 50.3% during the 1st quarter. Bessemer Group Inc. now owns 230 shares of the basic materials company's stock worth $42,000 after purchasing an additional 77 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in Carpenter Technology during the fourth quarter worth about $44,000. CIBC Private Wealth Group LLC increased its stake in shares of Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after buying an additional 127 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after acquiring an additional 191 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Dividend Announcement

The business 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. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology's dividend payout ratio (DPR) is 11.33%.

Carpenter Technology declared that its Board of Directors has authorized a share buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to buy up to 4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.