Carpenter Technology Co. (NYSE:CRS) – Equities research analysts at KeyCorp issued their Q2 2019 earnings per share (EPS) estimates for Carpenter Technology in a report issued on Wednesday, October 24th. KeyCorp analyst P. Gibbs forecasts that the basic materials company will earn $0.65 per share for the quarter. KeyCorp also issued estimates for Carpenter Technology’s Q4 2019 earnings at $0.86 EPS, FY2019 earnings at $2.92 EPS and FY2020 earnings at $3.58 EPS.
A number of other equities analysts also recently weighed in on the stock. Deutsche Bank set a $50.00 target price on shares of Carpenter Technology and gave the stock a “hold” rating in a research note on Thursday, October 25th. ValuEngine downgraded shares of Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research downgraded shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $58.00.
Carpenter Technology (NYSE:CRS) last announced its earnings results on Wednesday, October 24th. The basic materials company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Carpenter Technology had a return on equity of 9.03% and a net margin of 8.74%. The firm had revenue of $572.40 million for the quarter, compared to the consensus estimate of $559.00 million. During the same period in the prior year, the business earned $0.49 EPS. Carpenter Technology’s quarterly revenue was up 19.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Tuesday, October 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, October 22nd. Carpenter Technology’s dividend payout ratio is presently 32.00%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zeke Capital Advisors LLC bought a new stake in Carpenter Technology in the second quarter valued at $213,000. Park National Corp OH bought a new stake in Carpenter Technology in the second quarter valued at $214,000. Jane Street Group LLC bought a new stake in Carpenter Technology in the second quarter valued at $220,000. Crossmark Global Holdings Inc. bought a new stake in Carpenter Technology in the second quarter valued at $222,000. Finally, Pitcairn Co. bought a new stake in Carpenter Technology in the second quarter valued at $225,000. 94.64% of the stock is owned by institutional investors and hedge funds.
Carpenter Technology Company Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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