Carpenter Technology (NYSE:CRS) Issues Earnings Results

Carpenter Technology (NYSE:CRS) issued its quarterly earnings data on Thursday. The basic materials company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08, Zacks reports. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%.

Carpenter Technology Trading Down 8.2 %

Carpenter Technology stock traded down $17.16 during trading hours on Thursday, hitting $191.95. The stock had a trading volume of 1,173,491 shares, compared to its average volume of 676,941. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 42.61, a P/E/G ratio of 0.98 and a beta of 1.55. Carpenter Technology has a one year low of $58.87 and a one year high of $213.65. The business’s 50 day simple moving average is $187.51 and its 200-day simple moving average is $162.91.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.42%. Carpenter Technology’s dividend payout ratio is presently 17.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRS. Benchmark reiterated a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $155.50.

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.