Carpenter Technology Co. (NYSE:CRS) Declares Quarterly Dividend of $0.20

Carpenter Technology Co. (NYSE:CRS) announced a quarterly dividend on Wednesday, January 15th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.20 per share by the basic materials company on Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Tuesday, January 28th.

Carpenter Technology has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carpenter Technology to earn $8.21 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.7%.

Carpenter Technology Stock Up 1.2 %

Shares of NYSE:CRS opened at $200.81 on Friday. Carpenter Technology has a 1 year low of $58.87 and a 1 year high of $202.58. 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 business’s 50-day moving average is $182.14 and its 200-day moving average is $156.23. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 44.72, a P/E/G ratio of 0.88 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Carpenter Technology will post 6.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price on the stock. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $153.00.

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.