FY2017 EPS Estimates for Carpenter Technology Corp. (CRS) Increased by KeyCorp
Carpenter Technology Corp. (NYSE:CRS) – Stock analysts at KeyCorp lifted their FY2017 earnings per share (EPS) estimates for Carpenter Technology Corp. in a report issued on Monday. KeyCorp analyst P. Gibbs now forecasts that the firm will post earnings of $1.63 per share for the year, up from their prior estimate of $1.30. KeyCorp also issued estimates for Carpenter Technology Corp.’s FY2018 earnings at $2.68 EPS.
Several other analysts also recently weighed in on CRS. Seaport Global Securities started coverage on Carpenter Technology Corp. in a report on Friday, September 9th. They issued a “neutral” rating and a $38.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $42.00 target price on shares of Carpenter Technology Corp. in a report on Friday, July 8th. Finally, Zacks Investment Research raised Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Tuesday, August 16th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of C$37.80.
Shares of Carpenter Technology Corp. (NYSE:CRS) traded up 1.602% during mid-day trading on Thursday, hitting $41.535. The stock had a trading volume of 69,113 shares. The firm has a 50 day moving average of $37.50 and a 200-day moving average of $35.36. The stock has a market cap of $1.94 billion, a P/E ratio of 180.587 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.
Carpenter Technology Corp. (NYSE:CRS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $454 million. Carpenter Technology Corp. had a return on equity of 4.66% and a net margin of 0.63%. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 23rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date was Friday, August 19th. Carpenter Technology Corp.’s dividend payout ratio is presently 327.27%.
In other Carpenter Technology Corp. news, Director Gregory A. Pratt sold 10,358 shares of the company’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 completion of the sale, the director now directly owns 12,613 shares of the company’s stock, valued at approximately C$489,132.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Carpenter Technology Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 3,463,791 shares of the company’s stock valued at $114,063,000 after buying an additional 112,523 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 valued at $103,940,000 after buying an additional 504,624 shares in the last quarter. BlackRock Fund Advisors increased its stake in Carpenter Technology Corp. by 3.7% in the second quarter. BlackRock Fund Advisors now owns 2,337,750 shares of the company’s stock valued at $76,982,000 after buying an additional 83,893 shares in the last quarter. State Street Corp increased its stake in Carpenter Technology Corp. by 7.9% in the second quarter. State Street Corp now owns 2,322,416 shares of the company’s stock valued at $76,478,000 after buying an additional 170,130 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Carpenter Technology Corp. by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 1,347,978 shares of the company’s stock valued at $44,388,000 after buying an additional 49,577 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.
About Carpenter Technology Corp.
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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