Carpenter Technology Corp. Expected to Post Q1 2017 Earnings of $0.20 Per Share (CRS)
Carpenter Technology Corp. (NYSE:CRS) – Equities researchers at KeyCorp raised their Q1 2017 EPS estimates for Carpenter Technology Corp. in a research note issued on Monday. KeyCorp analyst P. Gibbs now forecasts that the firm will post earnings of $0.20 per share for the quarter, up from their prior estimate of $0.19.
Carpenter Technology Corp. (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Carpenter Technology Corp. had a return on equity of 4.66% and a net margin of 0.63%. The company earned $457.70 million during the quarter, compared to the consensus estimate of $454 million. During the same quarter last year, the company earned $0.52 EPS. The company’s quarterly revenue was down 18.0% on a year-over-year basis.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Carpenter Technology Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, July 18th. Seaport Global Securities began coverage on Carpenter Technology Corp. in a research report on Friday, September 9th. They issued a “neutral” rating and a $38.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $42.00 target price on shares of Carpenter Technology Corp. in a research report on Friday, July 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Carpenter Technology Corp. currently has a consensus rating of “Hold” and an average price target of C$37.80.
Carpenter Technology Corp. (NYSE:CRS) opened at 41.99 on Wednesday. The stock has a 50 day moving average price of $37.38 and a 200-day moving average price of $35.32. The firm has a market capitalization of $1.96 billion, a PE ratio of 182.57 and a beta of 1.97. Carpenter Technology Corp. has a one year low of $23.99 and a one year high of $42.25.
A number of institutional investors have recently made changes to their positions in CRS. Dimensional Fund Advisors LP boosted its stake in shares of Carpenter Technology Corp. by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,156,496 shares of the company’s stock worth $103,940,000 after buying an additional 504,624 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Carpenter Technology Corp. during the first quarter worth about $15,171,000. JPMorgan Chase & Co. boosted its stake in shares of Carpenter Technology Corp. by 136.2% in the second quarter. JPMorgan Chase & Co. now owns 599,514 shares of the company’s stock worth $19,742,000 after buying an additional 345,676 shares in the last quarter. State Street Corp boosted its stake in shares of Carpenter Technology Corp. by 15.9% in the first quarter. State Street Corp now owns 2,152,286 shares of the company’s stock worth $73,673,000 after buying an additional 294,803 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Carpenter Technology Corp. by 537.6% in the first quarter. Canada Pension Plan Investment Board now owns 298,400 shares of the company’s stock worth $10,214,000 after buying an additional 251,600 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of C$38.78, for a total transaction of C$401,683.24. Following the transaction, the director now owns 12,613 shares of the company’s stock, valued at C$489,132.14. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.60% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 23rd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Friday, August 19th. Carpenter Technology Corp.’s dividend payout ratio (DPR) is presently 327.27%.
Carpenter Technology Corp. 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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