Q3 2018 EPS Estimates for Carpenter Technology Co. Reduced by Seaport Global Securities (CRS)
Carpenter Technology Co. (NYSE:CRS) – Stock analysts at Seaport Global Securities dropped their Q3 2018 earnings estimates for Carpenter Technology in a note issued to investors on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the basic materials company will post earnings of $0.60 per share for the quarter, down from their prior forecast of $0.62. Seaport Global Securities also issued estimates for Carpenter Technology’s Q4 2018 earnings at $0.74 EPS, FY2018 earnings at $2.38 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $0.77 EPS, Q3 2019 earnings at $0.93 EPS and Q4 2019 earnings at $1.01 EPS.
Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $487.80 million for the quarter, compared to analyst estimates of $482.20 million. Carpenter Technology had a net margin of 8.30% and a return on equity of 7.94%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share.
Shares of Carpenter Technology (CRS) traded up $0.32 during trading hours on Monday, hitting $47.94. 64,545 shares of the stock were exchanged, compared to its average volume of 450,941. The firm has a market capitalization of $2,230.00, a price-to-earnings ratio of 14.09 and a beta of 2.05. The company has a current ratio of 2.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. Carpenter Technology has a 52 week low of $34.24 and a 52 week high of $54.61.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its stake in Carpenter Technology by 4.7% during the second quarter. New York State Common Retirement Fund now owns 51,000 shares of the basic materials company’s stock worth $1,909,000 after buying an additional 2,299 shares during the last quarter. California Public Employees Retirement System raised its stake in Carpenter Technology by 3.5% during the third quarter. California Public Employees Retirement System now owns 123,300 shares of the basic materials company’s stock worth $5,922,000 after buying an additional 4,200 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Carpenter Technology by 38.9% during the third quarter. Frontier Capital Management Co. LLC now owns 1,242,423 shares of the basic materials company’s stock worth $59,674,000 after buying an additional 347,965 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Carpenter Technology during the third quarter worth $313,000. Finally, Northern Trust Corp raised its stake in Carpenter Technology by 1.6% during the second quarter. Northern Trust Corp now owns 1,072,901 shares of the basic materials company’s stock worth $40,158,000 after buying an additional 16,916 shares during the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.
In other news, COO Joseph E. Haniford sold 11,448 shares of Carpenter Technology stock in a transaction on Friday, December 1st. The shares were sold at an average price of $49.09, for a total transaction of $561,982.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.51% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 6th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, February 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. Carpenter Technology’s dividend payout ratio (DPR) is presently 21.30%.
WARNING: “Q3 2018 EPS Estimates for Carpenter Technology Co. Reduced by Seaport Global Securities (CRS)” was first posted by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.watchlistnews.com/q3-2018-eps-estimates-for-carpenter-technology-co-reduced-by-seaport-global-securities-crs/1850391.html.
About Carpenter Technology
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.
Receive News & Ratings for Carpenter Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology and related companies with MarketBeat.com's FREE daily email newsletter.