Zacks Research Analysts Raise Earnings Estimates for CRS

Key Points

• Zacks Research raised its Q4 2028 EPS estimate for Carpenter Technology to $3.99 from $3.98, while the current full-year consensus earnings estimate stands at $10.56 per share.
• Carpenter Technology’s latest quarterly results beat EPS expectations, posting $2.77 per share versus $2.59 expected, though revenue of $655.6 million came in below analyst forecasts.
• Analyst sentiment remains broadly positive, with 8 Buy ratings and 2 Hold ratings and a consensus price target of $481.75, even as the stock traded down 1.1% to $610.03.

Carpenter Technology Corporation (NYSE:CRS - Free Report) - Zacks Research increased their Q4 2028 earnings per share estimates for Carpenter Technology in a research note issued on Friday, June 26th. Zacks Research analyst Team now expects that the basic materials company will post earnings per share of $3.99 for the quarter, up from their prior forecast of $3.98. The consensus estimate for Carpenter Technology's current full-year earnings is $10.56 per share.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Carpenter Technology had a net margin of 15.82% and a return on equity of 25.02%. The business had revenue of $655.60 million for the quarter, compared to analysts' expectations of $797.00 million. During the same quarter in the previous year, the business posted $1.88 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year.

CRS has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $465.00 to $470.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Weiss Ratings downgraded Carpenter Technology from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $500.00 target price on shares of Carpenter Technology in a research report on Thursday, April 30th. Susquehanna raised their target price on Carpenter Technology from $470.00 to $495.00 and gave the company a "positive" rating in a research note on Thursday, April 30th. Finally, KeyCorp lifted their price target on Carpenter Technology from $459.00 to $644.00 and gave the company an "overweight" rating in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $481.75.

Carpenter Technology Trading Down 1.1%

Shares of CRS opened at $610.03 on Thursday. The firm's 50-day moving average price is $488.92 and its 200-day moving average price is $409.55. The firm has a market capitalization of $30.31 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 2.12 and a beta of 1.25. The company has a current ratio of 3.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.33. Carpenter Technology has a 1-year low of $228.00 and a 1-year high of $624.50.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, April 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, April 28th. Carpenter Technology's dividend payout ratio is 8.42%.

Insider Transactions at Carpenter Technology

In other news, VP Marshall D. Akins sold 11,815 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $441.36, for a total transaction of $5,214,668.40. Following the sale, the vice president owned 18,344 shares in the company, valued at $8,096,307.84. This represents a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anastasios John Hart sold 750 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.86, for a total transaction of $317,895.00. Following the sale, the director directly owned 750 shares of the company's stock, valued at $317,895. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carpenter Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRS. State Street Corp increased its holdings in shares of Carpenter Technology by 10.1% in the 3rd quarter. State Street Corp now owns 2,096,145 shares of the basic materials company's stock worth $514,687,000 after purchasing an additional 192,533 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Carpenter Technology by 18.8% during the fourth quarter. Invesco Ltd. now owns 2,071,657 shares of the basic materials company's stock valued at $652,241,000 after purchasing an additional 327,302 shares during the last quarter. Egerton Capital UK LLP raised its holdings in shares of Carpenter Technology by 13.0% during the fourth quarter. Egerton Capital UK LLP now owns 1,553,012 shares of the basic materials company's stock valued at $488,950,000 after purchasing an additional 178,679 shares during the last quarter. SurgoCap Partners LP lifted its position in Carpenter Technology by 29.5% during the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company's stock valued at $294,377,000 after purchasing an additional 272,896 shares during the period. Finally, Geode Capital Management LLC lifted its position in Carpenter Technology by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 975,960 shares of the basic materials company's stock valued at $307,333,000 after purchasing an additional 78,588 shares during the period. 92.03% of the stock is owned by institutional investors.

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.

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