Carpenter Technology Corporation (NYSE:CRS) announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05, Bloomberg Earnings reports. The business had revenue of $479.80 million during the quarter, compared to analyst estimates of $448.46 million. Carpenter Technology Corporation had a return on equity of 6.67% and a net margin of 4.06%. Carpenter Technology Corporation’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share.
Carpenter Technology Corporation (NYSE CRS) traded down $1.40 on Friday, hitting $46.60. 322,200 shares of the company were exchanged, compared to its average volume of 355,027. Carpenter Technology Corporation has a one year low of $34.24 and a one year high of $51.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.91 and a quick ratio of 0.98. The company has a market capitalization of $2,246.73, a price-to-earnings ratio of 28.91 and a beta of 2.09.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors 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 dividend yield of 1.55%. The ex-dividend date is Monday, October 23rd. Carpenter Technology Corporation’s payout ratio is currently 44.44%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, October 3rd. Cowen and Company lifted their target price on shares of Carpenter Technology Corporation from $37.00 to $53.00 in a research note on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Carpenter Technology Corporation in a research note on Wednesday, October 11th. TheStreet upgraded shares of Carpenter Technology Corporation from a “c+” rating to a “b” rating in a research report on Thursday, July 27th. Finally, Longbow Research boosted their price objective on shares of Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $48.17.
In other news, Director I Martin Inglis sold 8,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $39.77, for a total value of $318,160.00. Following the sale, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $445,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. Karol sold 2,645 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $40.50, for a total transaction of $107,122.50. Following the sale, the director now directly owns 230,418 shares in the company, valued at $9,331,929. The disclosure for this sale can be found here. In the last three months, insiders sold 22,645 shares of company stock worth $909,803. Insiders own 4.51% of the company’s stock.
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Carpenter Technology Corporation 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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