Carpenter Technology Corp. (CRS) Releases Q3 Earnings Guidance
Carpenter Technology Corp. (NYSE:CRS) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.54-0.58 for the period, compared to the Thomson Reuters consensus estimate of $0.73, Stock Ratings Network reports.
Shares of Carpenter Technology Corp. (NYSE:CRS) traded down 4.24% on Thursday, hitting $63.62. The stock had a trading volume of 679,477 shares. Carpenter Technology Corp. has a 52-week low of $43.30 and a 52-week high of $67.00. The stock has a 50-day moving average of $61.98 and a 200-day moving average of $60.60. The company has a market cap of $3.376 billion and a P/E ratio of 25.79.
Carpenter Technology Corp. (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.55. The company had revenue of $503.50 million for the quarter, compared to the consensus estimate of $487.49 million. On average, analysts predict that Carpenter Technology Corp. will post $2.79 earnings per share for the current fiscal year.
A number of research firms have recently commented on CRS. Analysts at Zacks downgraded shares of Carpenter Technology Corp. from a neutral rating to an underperform rating in a research note on Tuesday, February 4th. They now have a $57.10 price target on the stock. Analysts at Buckingham Research raised their price target on shares of Carpenter Technology Corp. to $78.00 in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $63.82.
Carpenter Technology Corporation (NYSE:CRS), is engaged in the manufacturing, fabrication and distribution of specialty metals.
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