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

Carpenter Technology Co. (NYSE:CRS) announced a quarterly dividend on Wednesday, January 15th,RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.20 per share by the basic materials company on Thursday, March 6th. This represents a $0.80 annualized dividend and a yield of 0.40%.

Carpenter Technology has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carpenter Technology to earn $8.14 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 9.8%.

Carpenter Technology Price Performance

CRS stock opened at $198.64 on Thursday. Carpenter Technology has a 52 week low of $58.87 and a 52 week high of $202.25. The firm has a market capitalization of $9.90 billion, a P/E ratio of 44.24, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. The company has a fifty day simple moving average of $181.21 and a two-hundred day simple moving average of $155.62. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. During the same quarter last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts anticipate that Carpenter Technology will post 6.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRS. JPMorgan Chase & Co. began coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Company Profile

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.