KeyCorp Predicts Stronger Earnings for Carpenter Technology

Carpenter Technology Co. (NYSE:CRS - Free Report) - Investment analysts at KeyCorp increased their FY2025 earnings estimates for shares of Carpenter Technology in a research report issued to clients and investors on Tuesday, April 22nd. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $7.20 per share for the year, up from their previous estimate of $6.40. The consensus estimate for Carpenter Technology's current full-year earnings is $6.83 per share. KeyCorp also issued estimates for Carpenter Technology's FY2026 earnings at $8.90 EPS.

Several other analysts also recently commented on CRS. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. Northcoast Research upgraded Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.17.

Carpenter Technology Stock Up 4.3 %

CRS stock opened at $198.88 on Friday. Carpenter Technology has a twelve month low of $79.14 and a twelve month high of $213.66. The stock has a market cap of $9.93 billion, a P/E ratio of 37.52, a PEG ratio of 0.93 and a beta of 1.28. 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's 50 day moving average is $183.53 and its two-hundred day moving average is $181.38.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.14. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's payout ratio is currently 15.09%.

Carpenter Technology declared that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Carpenter Technology

Large investors have recently bought and sold shares of the stock. Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology during the third quarter valued at approximately $84,000. Barclays PLC lifted its stake in shares of Carpenter Technology by 471.1% in the third quarter. Barclays PLC now owns 101,745 shares of the basic materials company's stock worth $16,236,000 after buying an additional 83,930 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology during the third quarter valued at about $80,000. Tidal Investments LLC grew its holdings in Carpenter Technology by 91.9% in the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock valued at $3,364,000 after buying an additional 10,094 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Carpenter Technology by 9.7% during the third quarter. Franklin Resources Inc. now owns 368,077 shares of the basic materials company's stock worth $57,891,000 after acquiring an additional 32,442 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

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.

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