What is KeyCorp’s Forecast for CRS FY2027 Earnings?

Carpenter Technology Corporation (NYSE:CRS) – Equities research analysts at KeyCorp issued their FY2027 earnings per share (EPS) estimates for shares of Carpenter Technology in a research report issued on Sunday, October 25th. KeyCorp analyst S. Mckinney forecasts that the basic materials company will post earnings per share of $13.45 for the year. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $13.34 per share.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $3.25 EPS for the quarter, topping the consensus estimate of $3.04 by $0.21. The business had revenue of $634.80 million for the quarter, compared to the consensus estimate of $830.85 million. During the same period last year, the firm earned $2.43 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year.

Several other analysts have also issued reports on CRS. Wells Fargo & Company dropped their target price on Carpenter Technology from $540.00 to $430.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. BTIG Research decreased their price target on Carpenter Technology from $620.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. TD Cowen lowered their price target on Carpenter Technology from $650.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Wall Street Zen raised Carpenter Technology from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Susquehanna reiterated a “positive” rating and set a $450.00 price objective on shares of Carpenter Technology in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $476.43.

Carpenter Technology Stock Down 0.3%

NYSE:CRS opened at $288.63 on Wednesday. The stock’s 50-day simple moving average is $414.30 and its 200 day simple moving average is $443.00. Carpenter Technology has a 52-week low of $273.45 and a 52-week high of $625.98.

Institutional Trading of Carpenter Technology

A number of hedge funds have recently made changes to their positions in CRS. Keating Financial Advisory Services Inc. acquired a new position in Carpenter Technology in the 2nd quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Carpenter Technology during the 1st quarter worth approximately $30,000. SJS Investment Consulting Inc. grew its position in shares of Carpenter Technology by 81.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 36 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Carpenter Technology during the 2nd quarter worth approximately $55,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Carpenter Technology during the second quarter worth approximately $56,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Carpenter Technology news, Director Ramin Younessi sold 438 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $493.15, for a total value of $215,999.70. Following the sale, the director owned 1,953 shares in the company, valued at $963,121.95. This represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony R. Thene sold 57,456 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $483.90, for a total value of $27,802,958.40. Following the completion of the sale, the chief executive officer owned 439,631 shares in the company, valued at $212,737,440.90. This represents a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 112,996 shares of company stock valued at $54,644,436. 2.90% of the stock is owned by company insiders.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Tuesday, October 20th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, October 20th.

About Carpenter Technology

Carpenter Technology Corporation is a manufacturer of premium specialty metals and engineered materials for demanding applications. The company produces stainless steels, nickel- and cobalt-based alloys, titanium, powder metals, and other high-performance materials designed to withstand extreme temperatures, corrosion, stress, and wear.

Its products are used in aerospace and defense, medical devices, energy, transportation, industrial equipment, and other specialized markets. Carpenter Technology supplies materials in forms such as bar, wire, strip, sheet, and powder, and also provides processing and engineered component solutions through its performance-engineered products operations.

Founded in 1889 as Carpenter Steel Company, the company has developed a global customer base supported by manufacturing, research, and service operations in the United States and international markets.