Equities research analysts expect Carpenter Technology Co. (NYSE:CRS) to post sales of $520.01 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Carpenter Technology’s earnings, with the highest sales estimate coming in at $535.13 million and the lowest estimate coming in at $497.90 million. Carpenter Technology posted sales of $473.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The company is scheduled to announce its next earnings results on Thursday, April 26th.
On average, analysts expect that Carpenter Technology will report full-year sales of $520.01 million for the current year, with estimates ranging from $1.96 billion to $2.07 billion. For the next financial year, analysts expect that the firm will report sales of $2.15 billion per share, with estimates ranging from $2.06 billion to $2.26 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Carpenter Technology.
Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. The firm had revenue of $487.80 million for the quarter, compared to the consensus estimate of $482.20 million. Carpenter Technology had a net margin of 8.30% and a return on equity of 7.94%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS.
Carpenter Technology (CRS) opened at $47.62 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 2.99. The stock has a market cap of $2,159.56, a price-to-earnings ratio of 22.34 and a beta of 2.05. Carpenter Technology has a fifty-two week low of $34.24 and a fifty-two week high of $54.61.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 6th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, February 5th. Carpenter Technology’s dividend payout ratio (DPR) is currently 21.24%.
In related news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $49.09, for a total value of $561,982.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.51% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its holdings in Carpenter Technology by 5.0% during the second quarter. Teachers Advisors LLC now owns 87,707 shares of the basic materials company’s stock valued at $3,283,000 after purchasing an additional 4,203 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Carpenter Technology by 21.7% during the second quarter. TIAA CREF Investment Management LLC now owns 153,434 shares of the basic materials company’s stock valued at $5,743,000 after purchasing an additional 27,394 shares during the last quarter. Amalgamated Bank lifted its holdings in Carpenter Technology by 1.2% during the second quarter. Amalgamated Bank now owns 6,581 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 78 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Carpenter Technology 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 purchasing an additional 2,299 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Carpenter Technology by 1.6% during the second quarter. Northern Trust Corp now owns 1,072,901 shares of the basic materials company’s stock valued at $40,158,000 after purchasing an additional 16,916 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors.
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Carpenter Technology 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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