Wall Street analysts expect that Carpenter Technology Corporation (NYSE:CRS) will report sales of $455.48 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Carpenter Technology Corporation’s earnings, with the lowest sales estimate coming in at $437.10 million and the highest estimate coming in at $469.60 million. Carpenter Technology Corporation posted sales of $389.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.1%. The company is expected to announce its next quarterly earnings report on Thursday, October 26th.

On average, analysts expect that Carpenter Technology Corporation will report full year sales of $455.48 million for the current fiscal year, with estimates ranging from $1.94 billion to $2.01 billion. For the next year, analysts anticipate that the company will post sales of $2.09 billion per share, with estimates ranging from $2.05 billion to $2.16 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Carpenter Technology Corporation.

Carpenter Technology Corporation (NYSE:CRS) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The business had revenue of $507.70 million during the quarter, compared to analyst estimates of $502.40 million. During the same period last year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis.

Several brokerages have recently issued reports on CRS. Zacks Investment Research cut shares of Carpenter Technology Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. TheStreet upgraded Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Longbow Research raised their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Cowen and Company restated a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $45.50.

In other news, Director Steven E. Karol sold 3,877 shares of Carpenter Technology Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $40.18, for a total transaction of $155,777.86. Following the sale, the director now owns 230,418 shares in the company, valued at $9,258,195.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven E. Karol sold 2,645 shares of Carpenter Technology Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the sale, the director now owns 230,418 shares in the company, valued at approximately $9,331,929. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,522 shares of company stock valued at $1,065,580. Insiders own 4.51% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Morningstar Investment Services LLC increased its stake in Carpenter Technology Corporation by 0.4% during the 2nd quarter. Morningstar Investment Services LLC now owns 8,041 shares of the basic materials company’s stock worth $301,000 after buying an additional 32 shares during the period. Granite Investment Partners LLC boosted its position in Carpenter Technology Corporation by 0.4% in the 2nd quarter. Granite Investment Partners LLC now owns 18,230 shares of the basic materials company’s stock valued at $682,000 after buying an additional 75 shares during the last quarter. Amalgamated Bank boosted its position in Carpenter Technology Corporation by 1.2% in the 2nd quarter. Amalgamated Bank now owns 6,581 shares of the basic materials company’s stock valued at $246,000 after buying an additional 78 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Carpenter Technology Corporation by 1.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock valued at $196,000 after buying an additional 92 shares during the last quarter. Finally, Dubuque Bank & Trust Co. boosted its position in Carpenter Technology Corporation by 3.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock valued at $138,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

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Carpenter Technology Corporation (CRS) traded up 0.10% during midday trading on Wednesday, hitting $50.27. The company had a trading volume of 156,920 shares. Carpenter Technology Corporation has a 52-week low of $30.37 and a 52-week high of $50.59. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 50.78 and a beta of 2.10. The stock has a 50 day moving average of $41.89 and a 200 day moving average of $38.59.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, August 18th. Carpenter Technology Corporation’s dividend payout ratio is presently 72.00%.

Carpenter Technology Corporation Company Profile

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

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Earnings History and Estimates for Carpenter Technology Corporation (NYSE:CRS)

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