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

Carpenter Technology (NYSE:CRS - Get Free Report) released its quarterly earnings results on Thursday. The basic materials company reported $1.66 earnings per share (EPS) 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 Trading Down 1.2 %

CRS traded down $2.31 during midday trading on Monday, hitting $190.75. The company's stock had a trading volume of 650,118 shares, compared to its average volume of 746,732. 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 firm has a market cap of $9.53 billion, a P/E ratio of 35.99, a PEG ratio of 0.92 and a beta of 1.54. The firm has a 50-day moving average price of $187.81 and a two-hundred day moving average price of $164.26. Carpenter Technology has a 52-week low of $58.87 and a 52-week high of $213.65.

Carpenter Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

CRS has been the subject of several research reports. JPMorgan Chase & Co. lifted 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 reaffirmed a "buy" rating and set a $175.00 price target 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 data from MarketBeat.com, the stock 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.