Carpenter Technology Co. Declares Quarterly Dividend of $0.20 (NYSE:CRS)

Carpenter Technology Co. (NYSE:CRSGet 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.

Carpenter Technology (NYSE:CRSGet Free Report) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The company had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. As a group, analysts expect that Carpenter Technology will post 6.63 earnings per share for the current year.

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

(Get Free Report)

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.

Recommended Stories

Dividend History for Carpenter Technology (NYSE:CRS)

Receive News & Ratings for Carpenter Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carpenter Technology and related companies with MarketBeat.com's FREE daily email newsletter.