Carpenter Technology (NYSE:CRS) issued its quarterly earnings results on Thursday. The basic materials company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.04, Briefing.com reports. The firm had revenue of $437.30 million during the quarter, compared to the consensus estimate of $453.23 million. Carpenter Technology had a return on equity of 6.84% and a net margin of 0.07%. Carpenter Technology’s revenue for the quarter was down 31.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 earnings per share.
Shares of NYSE CRS traded down $1.24 during midday trading on Friday, hitting $22.36. The company’s stock had a trading volume of 10,557,130 shares, compared to its average volume of 522,227. The stock has a fifty day moving average price of $23.54 and a 200 day moving average price of $28.06. The company has a current ratio of 2.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2,236,000.00 and a beta of 2.19. Carpenter Technology has a one year low of $13.60 and a one year high of $56.33.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Carpenter Technology from a “hold” rating to a “strong sell” rating and set a $20.00 price objective for the company. in a research note on Friday, April 17th. Cowen reiterated a “buy” rating and issued a $27.00 price objective on shares of Carpenter Technology in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on Carpenter Technology from $49.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, April 17th. Finally, ValuEngine upgraded shares of Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Friday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.67.
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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