Analysts Expect Carpenter Technology Co. (CRS) to Announce $0.58 EPS

Equities analysts expect Carpenter Technology Co. (NYSE:CRS) to announce earnings per share (EPS) of $0.58 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Carpenter Technology’s earnings, with estimates ranging from $0.55 to $0.60. Carpenter Technology posted earnings per share of $0.44 in the same quarter last year, which indicates a positive year over year growth rate of 31.8%. The firm is expected to issue its next earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Carpenter Technology will report full year earnings of $2.32 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.48. For the next fiscal year, analysts forecast that the company will post earnings of $3.28 per share, with EPS estimates ranging from $2.95 to $3.68. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Carpenter Technology.

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Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. The firm had revenue of $487.80 million for the quarter, compared to analysts’ expectations of $482.20 million. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. Carpenter Technology’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS.

CRS has been the topic of a number of analyst reports. Zacks Investment Research cut Carpenter Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Deutsche Bank lifted their price target on Carpenter Technology from $47.00 to $49.00 and gave the stock a “hold” rating in a research note on Wednesday, April 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.25.

Institutional investors and hedge funds have recently modified their holdings of the stock. Kennedy Capital Management Inc. boosted its position in Carpenter Technology by 466.4% during the 4th quarter. Kennedy Capital Management Inc. now owns 490,698 shares of the basic materials company’s stock worth $25,021,000 after acquiring an additional 404,070 shares during the period. Granite Investment Partners LLC boosted its position in Carpenter Technology by 69.1% during the 4th quarter. Granite Investment Partners LLC now owns 246,022 shares of the basic materials company’s stock worth $12,545,000 after acquiring an additional 100,524 shares during the period. Emerald Advisers Inc. PA boosted its position in Carpenter Technology by 26.2% during the 4th quarter. Emerald Advisers Inc. PA now owns 477,978 shares of the basic materials company’s stock worth $24,372,000 after acquiring an additional 99,202 shares during the period. Deutsche Bank AG boosted its position in Carpenter Technology by 36.8% during the 4th quarter. Deutsche Bank AG now owns 294,111 shares of the basic materials company’s stock worth $14,995,000 after acquiring an additional 79,159 shares during the period. Finally, James Investment Research Inc. acquired a new stake in Carpenter Technology during the 4th quarter worth about $2,990,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CRS opened at $49.35 on Friday. The stock has a market capitalization of $2,274.51, a P/E ratio of 23.53 and a beta of 2.02. Carpenter Technology has a 1-year low of $34.24 and a 1-year high of $54.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 2.99.

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About Carpenter Technology

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. It operates through 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.

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Earnings History and Estimates for Carpenter Technology (NYSE:CRS)

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