Carpenter Technology (CRS) Set to Announce Quarterly Earnings on Thursday

Carpenter Technology (NYSE:CRS) will be issuing its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $1.45 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, analysts expect Carpenter Technology to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Carpenter Technology Trading Down 1.8 %

Carpenter Technology stock opened at $155.80 on Wednesday. The company has a 50 day moving average price of $149.61 and a 200 day moving average price of $122.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. Carpenter Technology has a 52 week low of $58.87 and a 52 week high of $166.51. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 59.24, a P/E/G ratio of 0.83 and a beta of 1.45.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Carpenter Technology’s dividend payout ratio is 30.42%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRS shares. BTIG Research increased their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Benchmark increased their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price objective on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.