Equities analysts predict that Carpenter Technology Co. (NYSE:CRS) will announce $631.06 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Carpenter Technology’s earnings, with the lowest sales estimate coming in at $628.95 million and the highest estimate coming in at $636.10 million. Carpenter Technology reported sales of $618.00 million during the same quarter last year, which suggests a positive year over year growth rate of 2.1%. The business is scheduled to announce its next earnings report on Thursday, August 1st.
On average, analysts expect that Carpenter Technology will report full year sales of $2.37 billion for the current financial year. For the next fiscal year, analysts anticipate that the company will post sales of $2.52 billion, with estimates ranging from $2.43 billion to $2.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Carpenter Technology.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. Carpenter Technology had a return on equity of 9.93% and a net margin of 6.83%. The company had revenue of $609.90 million during the quarter, compared to analyst estimates of $585.08 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. Carpenter Technology’s revenue was up 6.6% compared to the same quarter last year.
Several brokerages recently commented on CRS. Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Longbow Research set a $59.00 price objective on Carpenter Technology and gave the stock a “buy” rating in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $52.50.
Several institutional investors and hedge funds have recently modified their holdings of CRS. Investors Research Corp bought a new stake in Carpenter Technology during the first quarter valued at about $133,000. First Mercantile Trust Co. grew its holdings in Carpenter Technology by 52.0% during the first quarter. First Mercantile Trust Co. now owns 3,138 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 1,073 shares during the period. SG Americas Securities LLC grew its holdings in Carpenter Technology by 16.7% during the first quarter. SG Americas Securities LLC now owns 3,592 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 515 shares during the period. Park National Corp OH bought a new stake in Carpenter Technology during the first quarter valued at about $201,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Carpenter Technology during the second quarter valued at about $203,000. 91.80% of the stock is owned by institutional investors.
Shares of CRS traded down $0.70 during trading hours on Thursday, hitting $44.35. The stock had a trading volume of 18,016 shares, compared to its average volume of 273,709. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.53 and a quick ratio of 0.87. Carpenter Technology has a 12 month low of $32.77 and a 12 month high of $60.78. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 17.84 and a beta of 2.46. The firm has a fifty day moving average price of $44.76.
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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