Equities Analysts Issue Forecasts for Carpenter Technology Co.’s FY2024 Earnings (NYSE:CRS)

Carpenter Technology Co. (NYSE:CRS) – Equities researchers at Zacks Research boosted their FY2024 earnings per share estimates for Carpenter Technology in a research report issued on Friday, April 26th. Zacks Research analyst S. Deb now forecasts that the basic materials company will earn $3.91 per share for the year, up from their prior estimate of $3.90. The consensus estimate for Carpenter Technology’s current full-year earnings is $3.97 per share. Zacks Research also issued estimates for Carpenter Technology’s Q3 2025 earnings at $1.09 EPS, FY2025 earnings at $4.21 EPS, Q1 2026 earnings at $1.00 EPS, Q2 2026 earnings at $0.97 EPS, Q3 2026 earnings at $1.18 EPS and FY2026 earnings at $4.55 EPS.

Carpenter Technology Price Performance

NYSE CRS opened at $85.70 on Monday. The company has a quick ratio of 1.26, a current ratio of 2.90 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $4.23 billion, a P/E ratio of 29.65 and a beta of 1.56. The company has a 50-day moving average price of $71.49 and a 200-day moving average price of $68.19. Carpenter Technology has a 52 week low of $44.40 and a 52 week high of $86.79.

Institutional Investors Weigh In On Carpenter Technology

Several hedge funds and other institutional investors have recently modified their holdings of CRS. Hawk Ridge Capital Management LP lifted its position in Carpenter Technology by 199.1% during the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock valued at $48,741,000 after purchasing an additional 458,227 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Carpenter Technology by 82.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after buying an additional 438,781 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Carpenter Technology during the 4th quarter valued at approximately $27,407,000. Norges Bank purchased a new stake in Carpenter Technology in the 4th quarter worth approximately $22,901,000. Finally, Invesco Ltd. raised its stake in Carpenter Technology by 24.2% during the 3rd quarter. Invesco Ltd. now owns 1,331,705 shares of the basic materials company’s stock worth $89,504,000 after acquiring an additional 259,330 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Monday, April 22nd. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s dividend payout ratio (DPR) is currently 27.68%.

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.