Carpenter Technology Corporation (NYSE:CRS) – Stock analysts at Seaport Global Securities raised their Q2 2018 earnings per share (EPS) estimates for Carpenter Technology Corporation in a report issued on Thursday. Seaport Global Securities analyst J. Sullivan now anticipates that the basic materials company will post earnings of $0.50 per share for the quarter, up from their prior forecast of $0.48. Seaport Global Securities also issued estimates for Carpenter Technology Corporation’s Q3 2018 earnings at $0.62 EPS, FY2018 earnings at $2.30 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.82 EPS, Q4 2019 earnings at $0.90 EPS and FY2019 earnings at $3.00 EPS.

A number of other research firms also recently issued reports on CRS. Zacks Investment Research raised shares of Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, July 18th. Cowen and Company reaffirmed a “hold” rating and set a $37.00 price target on shares of Carpenter Technology Corporation in a research note on Thursday, October 19th. TheStreet raised shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research note on Thursday, July 27th. Longbow Research upped their price target on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $48.17.

COPYRIGHT VIOLATION NOTICE: This piece was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another website, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/30/research-analysts-offer-predictions-for-carpenter-technology-corporations-q2-2018-earnings-crs.html.

Shares of Carpenter Technology Corporation (CRS) opened at 50.29 on Monday. The stock’s 50 day moving average is $47.10 and its 200 day moving average is $40.27. Carpenter Technology Corporation has a 52-week low of $30.80 and a 52-week high of $51.66. The stock has a market cap of $2.35 billion, a PE ratio of 50.80 and a beta of 2.09.

Carpenter Technology Corporation (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm had revenue of $479.80 million for the quarter, compared to analysts’ expectations of $448.46 million. Carpenter Technology Corporation had a net margin of 4.06% and a return on equity of 6.67%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s dividend payout ratio (DPR) is 44.44%.

In other Carpenter Technology Corporation news, Director Jeffrey Wadsworth sold 4,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $40.25, for a total transaction of $161,000.00. Following the transaction, the director now owns 4,200 shares in the company, valued at $169,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director I Martin Inglis sold 8,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $318,160.00. Following the transaction, the director now owns 11,200 shares in the company, valued at approximately $445,424. The disclosure for this sale can be found here. Insiders have sold 26,522 shares of company stock worth $1,065,580 in the last quarter. Company insiders own 4.51% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund increased its position in Carpenter Technology Corporation by 4.7% during the second quarter. New York State Common Retirement Fund now owns 51,000 shares of the basic materials company’s stock valued at $1,909,000 after acquiring an additional 2,299 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Carpenter Technology Corporation during the second quarter valued at $802,000. JPMorgan Chase & Co. increased its position in Carpenter Technology Corporation by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 573,376 shares of the basic materials company’s stock valued at $21,461,000 after acquiring an additional 66,712 shares during the last quarter. Paradigm Capital Management Inc. NY increased its position in Carpenter Technology Corporation by 23.5% during the second quarter. Paradigm Capital Management Inc. NY now owns 14,700 shares of the basic materials company’s stock valued at $551,000 after acquiring an additional 2,800 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Carpenter Technology Corporation by 15.4% during the first quarter. UBS Asset Management Americas Inc. now owns 29,093 shares of the basic materials company’s stock valued at $1,085,000 after acquiring an additional 3,891 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

About Carpenter Technology Corporation

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.

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

Receive News & Ratings for Carpenter Technology Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology Corporation and related companies with MarketBeat.com's FREE daily email newsletter.