FY2024 EPS Estimates for Carpenter Technology Co. (NYSE:CRS) Raised by Zacks Research

Carpenter Technology Co. (NYSE:CRS) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Carpenter Technology in a research report issued on Friday, April 26th. Zacks Research analyst S. Deb now expects that the basic materials company will post earnings of $3.91 per share for the year, up from their prior forecast of $3.90. The consensus estimate for Carpenter Technology’s current full-year earnings is $3.97 per share. Zacks Research also issued estimates for Carpenter Technology’s Q3 2025 earnings at $1.09 EPS, FY2025 earnings at $4.21 EPS, Q1 2026 earnings at $1.00 EPS, Q2 2026 earnings at $0.97 EPS, Q3 2026 earnings at $1.18 EPS and FY2026 earnings at $4.55 EPS.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, January 25th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $669.56 million. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%.

Carpenter Technology Stock Up 2.8 %

Shares of NYSE:CRS opened at $84.00 on Monday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 29.07 and a beta of 1.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.90 and a quick ratio of 1.26. The business’s 50-day moving average is $71.13 and its 200-day moving average is $68.07. Carpenter Technology has a 1 year low of $44.40 and a 1 year high of $84.03.

Carpenter Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 22nd. Carpenter Technology’s payout ratio is currently 27.68%.

Institutional Trading of Carpenter Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Carpenter Technology by 0.9% in the third quarter. Vanguard Group Inc. now owns 5,855,711 shares of the basic materials company’s stock worth $393,562,000 after purchasing an additional 53,994 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Carpenter Technology by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,616,808 shares of the basic materials company’s stock valued at $256,072,000 after acquiring an additional 43,589 shares in the last quarter. FMR LLC grew its holdings in shares of Carpenter Technology by 15.9% in the third quarter. FMR LLC now owns 1,545,931 shares of the basic materials company’s stock valued at $103,902,000 after acquiring an additional 212,321 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Carpenter Technology by 24.2% in the third quarter. Invesco Ltd. now owns 1,331,705 shares of the basic materials company’s stock valued at $89,504,000 after acquiring an additional 259,330 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Carpenter Technology by 82.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after acquiring an additional 438,781 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.