Carpenter Technology (NYSE:CRS) Announces Earnings Results

Carpenter Technology (NYSE:CRS) released its quarterly earnings results on Thursday. The basic materials company reported $1.66 earnings per share for the quarter, topping the consensus estimate 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 7.4 %

Shares of CRS stock opened at $193.59 on Friday. Carpenter Technology has a 1-year low of $58.87 and a 1-year high of $213.65. The firm’s 50-day simple moving average is $187.77 and its 200-day simple moving average is $163.12. The firm has a market cap of $9.65 billion, a P/E ratio of 43.12, a PEG ratio of 0.99 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRS. JPMorgan Chase & Co. lifted 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. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus 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.