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

Carpenter Technology (NYSE:CRS) issued its earnings results on Thursday. The basic materials company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08, Zacks reports. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $193.59 on Friday. The stock has a fifty day moving average price of $187.77 and a 200 day moving average price of $163.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The stock has a market cap of $9.65 billion, a PE ratio of 43.12, a P/E/G ratio of 0.99 and a beta of 1.55. Carpenter Technology has a 1 year low of $58.87 and a 1 year high of $213.65.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Monday. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.