Carpenter Technology Co. (NYSE:CRS) is a specialty metals manufacturer that recently received positive news from analysts at Zacks Research. In a research note issued to investors on June 15th, Zacks Research lifted their Q1 2024 earnings estimates for Carpenter Technology. Analyst M. Das now forecasts that the company will post earnings per share of $0.57 for the quarter, up from their previous estimate of $0.49. Additionally, Zacks Research issued estimates for Carpenter Technology&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s Q2 2025 earnings at $0.67 EPS.
This positive outlook reflects the company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s recent financial performance. Carpenter Technology last released its quarterly earnings data on April 27th, reporting $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s net margin was 0.87%, and it had a return on equity of 1.35%. Furthermore, Carpenter Technology&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s revenue for the quarter was $690.10 million, compared to the consensus estimate of $632.50 million, representing a 41.1% increase year-over-year.
Analysts&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217; confidence in Carpenter Technology is also reflected in the company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s stock performance. The stock opened at $51.95 on Friday and has a fifty-day moving average price of $48.60, indicating a positive trend. However, it is essential to note that the stock has a one-year low of $24.76 and a one-year high of $54.89. The company has a market cap of $2.52 billion and a price-to-earnings ratio of 123.69.
Institutional trading of Carpenter Technology&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s stock has also seen some activity. Hedge funds such as LPL Financial LLC and Cerity Partners LLC have made changes to their positions in the stock. LPL Financial LLC now owns 21,039 shares of the company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s stock worth $777,000, while Cerity Partners LLC purchased a new stake in Carpenter Technology during the first quarter, worth $752,000.
Furthermore, Carpenter Technology recently declared a quarterly dividend, paid on June 1st, to shareholders of record on May 2nd. This $0.20 dividend represents an annualized dividend of $0.80 and a yield of 1.54%. The company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s payout ratio is 190.48%.
Carpenter Technology Corp. specializes in manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments, focusing on premium alloy and stainless-steel manufacturing operations.
In conclusion, Carpenter Technology Co. has received positive feedback from analysts regarding its earnings estimates and financial performance. The stock has shown positive momentum, and institutional trading activity has been observed. As the company continues to innovate in the specialty metals industry, investors should keep an eye on Carpenter Technology for potential growth opportunities.
Disclaimer: The instant news alert and this article were generated by narrative science technology and financial data from MarketBeat. The story was reviewed by MarketBeat&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPXhiTG1HRmF1S3R3QXBic0NhZGZFZUZsZ2lIbmlrU0c5eVJEVk9RVXhZUmtoWFJ6aFBPR1JRYVRCblVUMDk-8217;s editorial team before publication. For any questions or comments about this story, please reach out to [email protected].
