Carpenter Technology Corp. (NYSE:CRS) announced its earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.32. Carpenter Technology Corp. had a negative net margin of 0.21% and a positive return on equity of 3.39%. The business had revenue of $339.80 million for the quarter, compared to analysts’ expectations of $429.24 million. During the same quarter last year, the business earned $0.26 EPS. The company’s quarterly revenue was down 14.6% on a year-over-year basis.
Carpenter Technology Corp. (NYSE:CRS) opened at 31.72 on Monday. Carpenter Technology Corp. has a one year low of $23.99 and a one year high of $42.27. The firm has a 50-day moving average price of $38.45 and a 200-day moving average price of $36.05. The stock’s market cap is $1.49 billion.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, October 25th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $0.72 dividend on an annualized basis and a yield of 2.27%. Carpenter Technology Corp.’s payout ratio is currently -800.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in Carpenter Technology Corp. by 215.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,759 shares of the company’s stock worth $124,000 after buying an additional 2,569 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Carpenter Technology Corp. by 15.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,829 shares of the company’s stock worth $159,000 after buying an additional 632 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Carpenter Technology Corp. during the second quarter worth about $176,000. Advisor Group Inc. bought a new position in Carpenter Technology Corp. during the second quarter worth about $197,000. Finally, Capstone Asset Management Co. acquired a new position in shares of Carpenter Technology Corp. during the third quarter worth $207,000. 95.87% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on CRS. Zacks Investment Research upgraded Carpenter Technology Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Monday, October 3rd. Seaport Global Securities began coverage on Carpenter Technology Corp. in a research report on Friday, September 9th. They set a “neutral” rating and a $38.00 target price on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $42.00 target price on shares of Carpenter Technology Corp. in a research report on Friday, July 8th.
Carpenter Technology Corp. Company Profile