Brokerages Anticipate Carpenter Technology Co. (CRS) Will Announce Quarterly Sales of $520.01 Million
Equities research analysts expect Carpenter Technology Co. (NYSE:CRS) to announce sales of $520.01 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Carpenter Technology’s earnings. The lowest sales estimate is $497.90 million and the highest is $535.13 million. Carpenter Technology posted sales of $473.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The business is scheduled to report its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Carpenter Technology will report full year sales of $520.01 million for the current financial year, with estimates ranging from $1.97 billion to $2.07 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.18 billion per share, with estimates ranging from $2.14 billion to $2.26 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Carpenter Technology.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. Carpenter Technology had a net margin of 8.30% and a return on equity of 7.94%. The company had revenue of $487.80 million for the quarter, compared to analyst estimates of $482.20 million. During the same quarter in the prior year, the business posted $0.15 EPS. Carpenter Technology’s quarterly revenue was up 14.1% on a year-over-year basis.
A number of large investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new position in Carpenter Technology in the 4th quarter valued at $246,000. MetLife Investment Advisors LLC acquired a new position in Carpenter Technology in the 4th quarter valued at $2,573,000. MainStreet Investment Advisors LLC acquired a new position in Carpenter Technology in the 4th quarter valued at $300,000. Zeke Capital Advisors LLC acquired a new position in Carpenter Technology in the 4th quarter valued at $206,000. Finally, Millennium Management LLC acquired a new position in Carpenter Technology in the 4th quarter valued at $936,000. Institutional investors and hedge funds own 97.81% of the company’s stock.
Carpenter Technology (CRS) opened at $51.73 on Monday. Carpenter Technology has a 12 month low of $34.24 and a 12 month high of $54.61. The company has a market cap of $2,426.96, a price-to-earnings ratio of 15.26 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 2.99.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Tuesday, February 6th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. Carpenter Technology’s payout ratio is presently 21.24%.
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Carpenter Technology 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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