Carpenter Technology (CRS) Scheduled to Post Earnings on Thursday

Carpenter Technology (NYSE:CRS) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, July 25th. Analysts expect Carpenter Technology to post earnings of $1.43 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The firm had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Carpenter Technology’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts expect Carpenter Technology to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Carpenter Technology Stock Performance

CRS opened at $125.00 on Wednesday. The firm has a 50 day moving average of $108.33 and a two-hundred day moving average of $85.22. The firm has a market capitalization of $6.20 billion, a PE ratio of 47.53 and a beta of 1.44. The company has a current ratio of 3.20, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. Carpenter Technology has a 12-month low of $55.74 and a 12-month high of $125.85.

Insiders Place Their Bets

In other news, Director Steven E. Karol sold 31,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the transaction, the director now directly owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP James D. Dee sold 23,518 shares of Carpenter Technology stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $111.26, for a total value of $2,616,612.68. Following the sale, the senior vice president now directly owns 84,798 shares in the company, valued at approximately $9,434,625.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven E. Karol sold 31,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total value of $3,117,670.00. Following the sale, the director now owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,678 shares of company stock worth $6,261,693. 3.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRS. Northcoast Research restated a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research report on Friday, June 14th. Benchmark restated a “buy” rating and issued a $140.00 target price on shares of Carpenter Technology in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft began coverage on Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target for the company. BTIG Research assumed coverage on Carpenter Technology in a research report on Wednesday, June 26th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, TD Cowen lifted their target price on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

Carpenter Technology Company Profile

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.