Brokerages expect Carpenter Technology Corporation (NYSE:CRS) to announce sales of $457.84 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Carpenter Technology Corporation’s earnings, with the lowest sales estimate coming in at $436.55 million and the highest estimate coming in at $469.60 million. Carpenter Technology Corporation reported sales of $389.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17.7%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, October 26th.

According to Zacks, analysts expect that Carpenter Technology Corporation will report full-year sales of $457.84 million for the current financial year, with estimates ranging from $1.96 billion to $2.02 billion. For the next financial year, analysts anticipate that the company will post sales of $2.10 billion per share, with estimates ranging from $2.06 billion to $2.17 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Carpenter Technology Corporation.

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

Several equities analysts recently issued reports on CRS shares. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Longbow Research lifted their price objective on Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, July 18th. Cowen and Company reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Carpenter Technology Corporation in a research report on Thursday. Finally, KeyCorp reissued a “hold” rating on shares of Carpenter Technology Corporation in a research report on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.50.

Carpenter Technology Corporation (NYSE:CRS) traded up 0.44% during mid-day trading on Monday, hitting $50.13. The stock had a trading volume of 140,240 shares. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $50.98. The firm has a market cap of $2.34 billion, a P/E ratio of 50.64 and a beta of 2.10. The stock has a 50-day moving average price of $45.82 and a 200 day moving average price of $39.78.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, October 24th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio (DPR) is 72.00%.

In other Carpenter Technology Corporation news, Director Jeffrey Wadsworth sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $40.25, for a total value of $161,000.00. Following the completion of the sale, the director now directly owns 4,200 shares in the company, valued at $169,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven E. Karol sold 2,645 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total value of $107,122.50. Following the sale, the director now owns 230,418 shares of the company’s stock, valued at approximately $9,331,929. The disclosure for this sale can be found here. Insiders sold a total of 26,522 shares of company stock valued at $1,065,580 over the last three months. Corporate insiders own 4.51% of the company’s stock.

Several large investors have recently made changes to their positions in CRS. Huntington National Bank lifted its holdings in shares of Carpenter Technology Corporation by 2,595.0% in the second quarter. Huntington National Bank now owns 2,695 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 2,595 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of Carpenter Technology Corporation by 64.5% in the second quarter. Riverhead Capital Management LLC now owns 2,797 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 1,097 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in shares of Carpenter Technology Corporation by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,691 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 107 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Carpenter Technology Corporation by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 556 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Carpenter Technology Corporation by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 5,244 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 92 shares during the last quarter. Institutional investors own 92.81% of the company’s stock.

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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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