Carpenter Technology Co. (CRS) To Go Ex-Dividend on January 28th

Carpenter Technology Co. (NYSE:CRS) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.20 per share by the basic materials company on Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, January 28th.

Carpenter Technology has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carpenter Technology to earn $8.21 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.7%.

Carpenter Technology Stock Performance

CRS opened at $200.81 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 44.72, a PEG ratio of 0.88 and a beta of 1.55. Carpenter Technology has a 12-month low of $58.87 and a 12-month high of $202.58. The business has a 50 day moving average of $182.14 and a 200-day moving average of $156.23.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts expect that Carpenter Technology will post 6.77 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on CRS. Benchmark restated a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective on the stock. One investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $153.00.

About Carpenter Technology

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.