Zacks: Analysts expect Carpenter Technology Co. (NYSE: CRS) will post quarterly sales of $ 490.30 million

Stock analysts predict that Carpenter Technology Co. (NYSE: CRS – Get Rating) will announce sales of $ 490.30 million for the current quarter, according to Zacks Investment Research. Two analysts have forecast Carpenter Technology’s earnings, with the lowest sales estimate at $ 455.00 million and the highest at $ 525.60 million. Carpenter Technology reported sales of $ 421.60 million in the same quarter last year, a positive growth of 16.3% over the previous year. The company is expected to release its next earnings results on Monday, January 1st.

According to Sachs, analysts expect Carpenter Technology to report annual sales of $ 1.76 billion for the current fiscal year, with estimates ranging from $ 1.73 billion to $ 1.80 billion. For next year, analysts expect the company to report sales of $ 2.21 billion, with estimates ranging from $ 2.20 billion to $ 2.23 billion. Zacks sales estimates are averaged based on a study by research firms that follow Carpenter Technology.

Carpenter Technology (NYSE: CRS – Get Rating) last released its quarterly earnings data on Thursday, April 28. The Basic Materials Company reported ($ 0.20) EPS for the quarter, beating the consensus estimate of ($ 0.27) by $ 0.07. Carpenter Technology had a negative net margin of 6.42% and a negative return on equity of 4.77%. The business had revenue of $ 489.00 million for the quarter, compared to analysts’ estimates of $ 415.67 million. During the same period last year, the company earned ($ 0.54) EPS. Business revenues for the quarter increased by 39.0% compared to the same quarter last year.

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Several brokerage companies have recently joined the CRS. Benchmark raised its target price for Carpenter Technology shares from $ 43.00 to $ 48.00 in a research note on Wednesday (April 20th). JPMorgan Chase & Co. raised its shares of Carpenter Technology from a “neutral” rating to an “overweight” rating and raised its price target for the company from $ 52.00 to $ 53.00 in a survey note on Friday (February 11th). Finally, StockNews.com raised shares of Carpenter Technology from a “sell” rating to a “hold” rating in a research note on Monday, May 16th.

Hedge funds and other institutional investors have recently changed their holdings in business. Toth Financial Advisory Corp. increased its stake in Carpenter Technology by 25.8% in the first quarter. Toth Financial Advisory Corp. already owns 1,394 shares of the company’s stock for basic materials worth $ 59,000 after buying an additional 286 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Carpenter Technology by 5.7% in the first quarter. Mutual of America Capital Management LLC now owns 6,955 shares of the company’s stock for basic materials worth $ 292,000 after purchasing an additional 372 shares during the period. Great West Life Assurance Co. Can increased its stake in Carpenter Technology by 1.0% in the first quarter. Great West Life Assurance Co. Can already owns 43,358 shares of the company’s stock for basic materials worth $ 1,871,000 after purchasing an additional 412 shares during the period. Stifel Financial Corp increased its position in Carpenter Technology by 2.5% in the 4th quarter. Stifel Financial Corp. now owns 17,452 shares of the company’s stock for basic materials worth $ 509,000 after acquiring an additional 419 shares during the period. Finally, Maryland’s retirement and pension system increased its position in Carpenter Technology by 2.3% in the first quarter. Maryland’s state pension and pension system owns 19,491 shares of the company’s stock for basic materials worth $ 818,000 after acquiring an additional 444 shares during the period. 91.36% of the shares are currently owned by hedge funds and other institutional investors.

Shares of CRS opened at $ 36.11 on Friday. The company has a 50-day moving average price of $ 38.51 and a 200-day moving average price of $ 34.52. Carpenter Technology has a twelve-month low of $ 26.84 and a twelve-month high of $ 49.20. The company has a market capitalization of $ 1.74 billion, a price-to-earnings ratio of -15.98 and a beta of 1.72. The company has a current ratio of 2.21, a fast ratio of 1.38 and a debt to equity ratio of 0.51.

The company also recently announced a quarterly dividend to be paid on Thursday (June 2nd). The record shareholders on Tuesday, May 3, will receive a dividend of $ 0.20 per share. This represents a $ 0.80 annual dividend and a dividend yield of 2.22%. The date of the former dividend is Monday, May 2. Carpenter Technology’s dividend payout ratio (DPR) is currently -35.40%.

About Carpenter Technology (Get an estimate)

Carpenter Technology Corporation manufactures, manufactures and distributes specialty metals worldwide. It operates in two segments, special alloy operations and performance-designed products. The company offers special alloys, including titanium alloys, powder metals, stainless steels, alloy steels and tool steels, as well as additives and metal powders and parts.

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Profit history and estimates for Carpenter Technology (NYSE: CRS)

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