Carpenter Technology Co. (NYSE:CRS) Expected to Post FY2024 Earnings of $4.44 Per Share

Carpenter Technology Co. (NYSE:CRS) – Stock analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for shares of Carpenter Technology in a research note issued to investors on Monday, July 22nd. Zacks Research analyst S. Deb anticipates that the basic materials company will earn $4.44 per share for the year. The consensus estimate for Carpenter Technology’s current full-year earnings is $4.44 per share. Zacks Research also issued estimates for Carpenter Technology’s Q4 2024 earnings at $1.52 EPS, Q3 2025 earnings at $1.35 EPS, FY2025 earnings at $5.03 EPS, Q3 2026 earnings at $1.37 EPS and FY2026 earnings at $5.49 EPS.

A number of other research firms also recently issued reports on CRS. Deutsche Bank Aktiengesellschaft started coverage on Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target on the stock. BTIG Research started coverage on Carpenter Technology in a research note on Wednesday, June 26th. They set a “buy” rating and a $120.00 price target on the stock. Northcoast Research restated a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a research note on Friday, June 14th. Benchmark restated a “buy” rating and set a $140.00 price target on shares of Carpenter Technology in a research note on Tuesday, May 28th. Finally, TD Cowen raised their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Carpenter Technology Trading Down 2.7 %

CRS opened at $121.51 on Thursday. Carpenter Technology has a one year low of $55.92 and a one year high of $126.36. The company has a market cap of $6.03 billion, a P/E ratio of 46.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 3.20. The business’s 50-day simple moving average is $108.56 and its 200-day simple moving average is $85.48.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The business had revenue of $684.90 million for the quarter, compared to the consensus estimate of $707.73 million. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis.

Insiders Place Their Bets

In other Carpenter Technology news, Director Steven E. Karol sold 31,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $100.57, for a total transaction of $3,117,670.00. Following the completion of the sale, the director now directly owns 244,126 shares of the company’s stock, valued at approximately $24,551,751.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Marshall D. Akins sold 4,358 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $102.23, for a total value of $445,518.34. Following the completion of the sale, the vice president now directly owns 23,014 shares of the company’s stock, valued at approximately $2,352,721.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. Karol sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $100.57, for a total value of $3,117,670.00. Following the completion of the sale, the director now directly owns 244,126 shares of the company’s stock, valued at $24,551,751.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,678 shares of company stock valued at $6,261,693. 3.40% of the stock is owned by company insiders.

Institutional Trading of Carpenter Technology

Hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its position in Carpenter Technology by 32.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,988 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 987 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Carpenter Technology by 322.5% in the 4th quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company’s stock worth $82,000 after buying an additional 887 shares in the last quarter. Veracity Capital LLC grew its stake in Carpenter Technology by 22.2% in the 4th quarter. Veracity Capital LLC now owns 14,031 shares of the basic materials company’s stock valued at $993,000 after acquiring an additional 2,548 shares during the last quarter. JB Capital LLC increased its holdings in Carpenter Technology by 7.4% during the 4th quarter. JB Capital LLC now owns 20,431 shares of the basic materials company’s stock valued at $1,447,000 after acquiring an additional 1,410 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in Carpenter Technology by 1.1% during the fourth quarter. New York State Teachers Retirement System now owns 66,948 shares of the basic materials company’s stock worth $4,740,000 after acquiring an additional 700 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

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.