Analysts Expect Carpenter Technology Corporation (CRS) to Post $0.41 EPS
Wall Street brokerages forecast that Carpenter Technology Corporation (NYSE:CRS) will post $0.41 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Carpenter Technology Corporation’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.46. Carpenter Technology Corporation reported earnings per share of ($0.08) in the same quarter last year, which indicates a positive year-over-year growth rate of 612.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Carpenter Technology Corporation will report full year earnings of $2.07 per share for the current year, with EPS estimates ranging from $1.99 to $2.26. For the next financial year, analysts anticipate that the business will post earnings of $2.64 per share, with EPS estimates ranging from $2.57 to $2.71. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Carpenter Technology Corporation.
Carpenter Technology Corporation (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $507.70 million for the quarter, compared to the consensus estimate of $502.40 million. Carpenter Technology Corporation had a return on equity of 4.48% and a net margin of 2.61%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS.
Several research analysts have recently commented on CRS shares. TheStreet raised Carpenter Technology Corporation from a “c+” rating to a “b” rating in a report on Thursday, July 27th. Longbow Research boosted their target price on Carpenter Technology Corporation from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research raised Carpenter Technology Corporation from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, July 18th. Finally, Cowen and Company reissued a “hold” rating and issued a $37.00 target price on shares of Carpenter Technology Corporation in a report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Carpenter Technology Corporation presently has an average rating of “Buy” and a consensus target price of $43.50.
Shares of Carpenter Technology Corporation (NYSE CRS) traded up 0.40% during mid-day trading on Monday, hitting $40.03. The company had a trading volume of 604,310 shares. The firm has a market cap of $1.89 billion, a PE ratio of 40.43 and a beta of 2.08. Carpenter Technology Corporation has a 12-month low of $30.37 and a 12-month high of $45.33. The firm’s 50 day moving average is $37.80 and its 200-day moving average is $38.09.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can increased its position in Carpenter Technology Corporation by 3.9% in the first quarter. Great West Life Assurance Co. Can now owns 28,640 shares of the basic materials company’s stock valued at $1,067,000 after buying an additional 1,085 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Carpenter Technology Corporation by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,273 shares of the basic materials company’s stock valued at $607,000 after buying an additional 200 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Carpenter Technology Corporation during the first quarter valued at about $1,149,000. Russell Investments Group Ltd. increased its position in Carpenter Technology Corporation by 14.7% in the first quarter. Russell Investments Group Ltd. now owns 456,877 shares of the basic materials company’s stock valued at $17,041,000 after buying an additional 58,669 shares in the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new position in Carpenter Technology Corporation during the first quarter valued at about $134,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.
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Carpenter Technology Corporation 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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