Carpenter Technology (NYSE:CRS) Announces Quarterly Earnings Results

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

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $193.12 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 0.99 and a beta of 1.55. The stock’s 50-day moving average is $187.81 and its 200-day moving average is $163.65. Carpenter Technology has a one year low of $58.87 and a one year high of $213.65.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is 17.82%.

Analysts Set New Price Targets

Several analysts recently commented on CRS shares. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.