$0.51 EPS Expected for Carpenter Technology Co. (CRS) This Quarter

Brokerages predict that Carpenter Technology Co. (NYSE:CRS) will announce earnings per share (EPS) of $0.51 for the current quarter, according to Zacks. Four analysts have issued estimates for Carpenter Technology’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.54. Carpenter Technology posted earnings per share of $0.15 in the same quarter last year, which would suggest a positive year over year growth rate of 240%. The business is scheduled to report its next quarterly earnings report on Thursday, February 1st.

According to Zacks, analysts expect that Carpenter Technology will report full-year earnings of $2.40 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.71. For the next year, analysts expect that the business will report earnings of $3.29 per share, with EPS estimates ranging from $2.87 to $4.01. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Carpenter Technology.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results 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. Carpenter Technology had a return on equity of 6.67% and a net margin of 4.06%. The company had revenue of $479.80 million for the quarter, compared to analyst estimates of $448.46 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis.

Several research firms recently weighed in on CRS. Zacks Investment Research upgraded Carpenter Technology from a “sell” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research report on Thursday. Cowen restated a “hold” rating and set a $53.00 price target on shares of Carpenter Technology in a research report on Sunday, December 10th. Finally, KeyCorp restated a “hold” rating on shares of Carpenter Technology in a research report on Thursday, November 16th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $52.25.

In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $49.09, for a total value of $561,982.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.51% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC boosted its holdings in Carpenter Technology 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 in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Carpenter Technology by 90.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after acquiring an additional 1,529 shares in the last quarter. Turner Investments LLC bought a new stake in Carpenter Technology in the third quarter worth $192,000. Tocqueville Asset Management L.P. bought a new stake in Carpenter Technology in the third quarter worth $214,000. Finally, Wrapmanager Inc. bought a new stake in Carpenter Technology in the third quarter worth $216,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Shares of Carpenter Technology (NYSE CRS) opened at $52.96 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 2.91. Carpenter Technology has a 1 year low of $34.24 and a 1 year high of $54.61. The firm has a market capitalization of $2,478.94, a P/E ratio of 32.69 and a beta of 2.08.

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About Carpenter Technology

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 (NYSE:CRS)

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