What is Zacks Research's Forecast for CRS FY2028 Earnings?

Key Points

• Zacks Research modestly raised its FY2028 EPS forecast for Carpenter Technology to $14.12 (from $14.10), while the consensus estimate for the current full year is $6.83 per share.
• Analyst sentiment is broadly positive with 9 Buy and 2 Hold ratings and a consensus target price of $395.22, and several firms have recently lifted price targets (e.g., Susquehanna $470, JPMorgan $394).
• Shares are trading near recent highs (opened $435.13) with a high valuation (PE ~50.5, market cap ~$21.7B), and the company recently beat quarterly EPS estimates ($2.33 vs. $2.20) with revenue up 7.5% year-over-year.

Carpenter Technology Corporation (NYSE:CRS - Free Report) - Zacks Research boosted their FY2028 EPS estimates for shares of Carpenter Technology in a research report issued on Friday, April 10th. Zacks Research analyst Team now forecasts that the basic materials company will post earnings per share of $14.12 for the year, up from their previous estimate of $14.10. The consensus estimate for Carpenter Technology's current full-year earnings is $6.83 per share.

Several other equities research analysts have also issued reports on CRS. Weiss Ratings restated a "buy (b)" rating on shares of Carpenter Technology in a report on Tuesday, January 27th. Susquehanna began coverage on shares of Carpenter Technology in a report on Tuesday, March 3rd. They set a "positive" rating and a $470.00 price objective for the company. BTIG Research lifted their price objective on shares of Carpenter Technology from $365.00 to $375.00 and gave the company a "buy" rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Carpenter Technology from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $388.00 to $394.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Carpenter Technology has an average rating of "Moderate Buy" and a consensus target price of $395.22.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $435.13 on Monday. The firm has a 50-day moving average price of $384.51 and a 200-day moving average price of $333.64. The firm has a market capitalization of $21.67 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 1.67 and a beta of 1.24. The company has a current ratio of 4.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.35. Carpenter Technology has a 12-month low of $163.06 and a 12-month high of $442.88.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, January 29th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. The firm had revenue of $728.00 million during the quarter, compared to analyst estimates of $733.76 million. Carpenter Technology had a net margin of 14.77% and a return on equity of 23.63%. The business's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $1.66 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRS. Geneos Wealth Management Inc. purchased a new position in shares of Carpenter Technology in the 2nd quarter worth approximately $28,000. Armstrong Advisory Group Inc. grew its position in shares of Carpenter Technology by 57.3% in the 4th quarter. Armstrong Advisory Group Inc. now owns 118 shares of the basic materials company's stock worth $37,000 after buying an additional 43 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $41,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Carpenter Technology by 54.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 171 shares of the basic materials company's stock worth $42,000 after buying an additional 60 shares during the last quarter. Finally, Spire Wealth Management grew its position in shares of Carpenter Technology by 164.7% in the 4th quarter. Spire Wealth Management now owns 135 shares of the basic materials company's stock worth $42,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, Director Steven E. Karol sold 3,500 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $381.12, for a total transaction of $1,333,920.00. Following the transaction, the director owned 225,381 shares of the company's stock, valued at approximately $85,897,206.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James D. Dee sold 15,800 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $391.78, for a total transaction of $6,190,124.00. Following the transaction, the senior vice president directly owned 73,739 shares in the company, valued at $28,889,465.42. This trade represents a 17.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,300 shares of company stock worth $8,664,044 in the last three months. Insiders own 2.90% of the company's stock.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Tuesday, January 27th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology's dividend payout ratio (DPR) is 9.29%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.