Carpenter Technology Co. (NYSE:CRS – Get Free Report) declared a quarterly dividend on Thursday, October 10th, NASDAQ reports. Investors of record on Tuesday, October 22nd will be given a dividend of 0.20 per share by the basic materials company on Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, October 22nd.
Carpenter Technology has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carpenter Technology to earn $7.39 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 10.8%.
Carpenter Technology Trading Down 0.4 %
NYSE:CRS traded down $0.69 on Friday, reaching $162.00. 745,505 shares of the company’s stock were exchanged, compared to its average volume of 584,262. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 43.97, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. Carpenter Technology has a 52-week low of $58.87 and a 52-week high of $166.51. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $146.25 and a 200-day moving average of $116.72.
Analyst Upgrades and Downgrades
CRS has been the topic of several recent research reports. Benchmark upped their price target on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 26th. BTIG Research increased their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target for the company. Finally, Northcoast Research reiterated a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a report on Friday, June 14th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.60.
Read Our Latest Research Report on CRS
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.
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