Carpenter Technology (NYSE:CRS) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Carpenter Technology (NYSE:CRS - Get Free Report) released its 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 19.88% and a net margin of 9.34%.

Carpenter Technology Stock Down 1.2 %

NYSE CRS traded down $2.31 during mid-day trading on Monday, reaching $190.75. 650,065 shares of the company's stock traded hands, compared to its average volume of 746,732. Carpenter Technology has a 1-year low of $58.87 and a 1-year high of $213.65. The company has a fifty day simple moving average of $187.81 and a 200-day simple moving average of $164.26. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 0.92 and a beta of 1.54.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology's dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

CRS has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Benchmark reiterated a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average 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.