FY2027 Earnings Estimate for CRS Issued By KeyCorp

Carpenter Technology Corporation (NYSE:CRS) – Equities researchers at KeyCorp issued their FY2027 earnings estimates for shares of Carpenter Technology in a note issued to investors on Wednesday, November 12th. KeyCorp analyst P. Gibbs expects that the basic materials company will post earnings per share of $12.65 for the year. KeyCorp has a “Overweight” rating and a $380.00 price target on the stock. The consensus estimate for Carpenter Technology’s current full-year earnings is $6.83 per share.

A number of other analysts have also recently issued reports on CRS. TD Cowen increased their target price on Carpenter Technology from $305.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. BTIG Research increased their price objective on shares of Carpenter Technology from $305.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Jones Trading started coverage on shares of Carpenter Technology in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 price objective on the stock. Cowen reiterated a “buy” rating on shares of Carpenter Technology in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Carpenter Technology from $305.00 to $388.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $371.14.

Carpenter Technology Stock Up 2.4%

Shares of NYSE CRS traded up $7.82 during mid-day trading on Friday, reaching $332.53. 331,873 shares of the company’s stock were exchanged, compared to its average volume of 911,712. Carpenter Technology has a twelve month low of $138.61 and a twelve month high of $342.11. The company has a current ratio of 4.44, a quick ratio of 2.37 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 1.41 and a beta of 1.47. The business has a fifty day simple moving average of $267.98 and a 200 day simple moving average of $255.40.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.30. Carpenter Technology had a return on equity of 22.68% and a net margin of 14.30%.The firm had revenue of $733.70 million for the quarter, compared to analyst estimates of $741.18 million. During the same period in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Tuesday, October 21st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s payout ratio is currently 9.78%.

Insider Buying and Selling

In other Carpenter Technology news, CEO Tony R. Thene sold 19,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the transaction, the chief executive officer owned 535,019 shares of the company’s stock, valued at $131,074,304.81. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven E. Karol sold 3,433 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $245.78, for a total value of $843,762.74. Following the sale, the director owned 180,000 shares in the company, valued at approximately $44,240,400. This represents a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,124 shares of company stock worth $6,890,250. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Carpenter Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRS. Invesco Ltd. raised its holdings in shares of Carpenter Technology by 37.1% in the 1st quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock valued at $381,869,000 after purchasing an additional 570,441 shares during the period. Egerton Capital UK LLP acquired a new position in Carpenter Technology during the first quarter worth approximately $329,727,000. SurgoCap Partners LP raised its stake in Carpenter Technology by 29.5% in the third quarter. SurgoCap Partners LP now owns 1,198,895 shares of the basic materials company’s stock valued at $294,377,000 after buying an additional 272,896 shares during the period. Advent International L.P. lifted its position in shares of Carpenter Technology by 12.1% in the first quarter. Advent International L.P. now owns 804,832 shares of the basic materials company’s stock valued at $145,819,000 after buying an additional 87,186 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Carpenter Technology by 5.8% during the 3rd quarter. Barclays PLC now owns 591,981 shares of the basic materials company’s stock worth $145,355,000 after acquiring an additional 32,645 shares during the period. 92.03% of the stock is owned by institutional investors.

About Carpenter Technology

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.