Carpenter Technology Co. (NYSE:CRS) – Stock analysts at Seaport Global Securities dropped their Q3 2018 earnings per share estimates for Carpenter Technology in a research report issued on Thursday, according to Zacks Investment Research. Seaport Global Securities analyst J. Sullivan now anticipates that the basic materials company will post earnings per share of $0.60 for the quarter, down from their previous forecast of $0.62. Seaport Global Securities also issued estimates for Carpenter Technology’s Q4 2018 earnings at $0.74 EPS, FY2018 earnings at $2.38 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $0.77 EPS, Q3 2019 earnings at $0.93 EPS and Q4 2019 earnings at $1.01 EPS.
Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. The business had revenue of $487.80 million during the quarter, compared to analysts’ expectations of $482.20 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis.
A number of other brokerages have also commented on CRS. Zacks Investment Research upgraded Carpenter Technology from a “sell” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a report on Thursday, January 18th. Cowen reiterated a “hold” rating and set a $53.00 price target on shares of Carpenter Technology in a report on Sunday, December 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Carpenter Technology has an average rating of “Hold” and an average price target of $52.25.
Carpenter Technology (NYSE:CRS) traded up $1.03 during mid-day trading on Monday, hitting $50.44. The stock had a trading volume of 74,270 shares, compared to its average volume of 463,259. The company has a market capitalization of $2,284.36, a price-to-earnings ratio of 23.64 and a beta of 2.05. Carpenter Technology has a 52 week low of $34.24 and a 52 week high of $54.61. The company has a quick ratio of 1.00, a current ratio of 2.99 and a debt-to-equity ratio of 0.41.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 6th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, February 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. Carpenter Technology’s dividend payout ratio (DPR) is currently 21.24%.
In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $49.09, for a total value of $561,982.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.51% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Huntington National Bank increased its position in Carpenter Technology by 1,902.0% in the fourth quarter. Huntington National Bank now owns 2,002 shares of the basic materials company’s stock worth $102,000 after buying an additional 1,902 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Carpenter Technology in the fourth quarter worth $103,000. Ladenburg Thalmann Financial Services Inc. increased its position in Carpenter Technology by 90.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock worth $154,000 after buying an additional 1,529 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in Carpenter Technology in the fourth quarter worth $202,000. Finally, Turner Investments LLC purchased a new stake in Carpenter Technology in the third quarter worth $192,000. 94.64% of the stock is owned by institutional investors and hedge funds.
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About Carpenter Technology
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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