Carpenter Technology (CRS) Scheduled to Post Quarterly Earnings on Thursday

Carpenter Technology (NYSE:CRS – Get Rating) is set to announce its earnings results before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $0.12 per share for the quarter. Carpenter Technology has set its Q1 2023 guidance at -$0.16–$0.14 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Carpenter Technology (NYSE:CRS – Get Rating) last announced its earnings results on Thursday, October 27th. The basic materials company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). Carpenter Technology had a negative net margin of 2.09% and a negative return on equity of 3.35%. The business had revenue of $522.90 million during the quarter, compared to analysts’ expectations of $558.00 million. On average, analysts expect Carpenter Technology to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $42.91 on Wednesday. The company has a 50-day simple moving average of $40.32 and a 200-day simple moving average of $36.63. Carpenter Technology has a one year low of $24.76 and a one year high of $44.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 2.80. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -49.89 and a beta of 1.69.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Tuesday, January 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.86%. Carpenter Technology’s payout ratio is -93.02%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRS. JPMorgan Chase & Co. raised its holdings in Carpenter Technology by 168.6% during the first quarter. JPMorgan Chase & Co. now owns 125,803 shares of the basic materials company’s stock worth $5,281,000 after purchasing an additional 78,961 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Carpenter Technology by 11.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,917 shares of the basic materials company’s stock worth $416,000 after purchasing an additional 1,009 shares in the last quarter. Private Advisor Group LLC purchased a new position in Carpenter Technology during the first quarter worth about $325,000. Citigroup Inc. raised its holdings in Carpenter Technology by 4.1% during the first quarter. Citigroup Inc. now owns 42,825 shares of the basic materials company’s stock worth $1,797,000 after purchasing an additional 1,685 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Carpenter Technology by 38.5% during the first quarter. MetLife Investment Management LLC now owns 25,021 shares of the basic materials company’s stock worth $1,050,000 after buying an additional 6,949 shares during the period. 92.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Carpenter Technology from a “hold” rating to a “sell” rating in a report on Thursday, December 8th.

About Carpenter Technology

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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.