Carpenter Technology Co. (CRS) To Go Ex-Dividend on October 22nd

Carpenter Technology Co. (NYSE:CRS) declared a quarterly dividend on Thursday, October 10th, NASDAQ reports. Stockholders of record on Tuesday, October 22nd will be paid 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 dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, October 22nd.

Carpenter Technology has a dividend payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of CRS stock opened at $158.52 on Friday. The business’s fifty day moving average is $148.92 and its 200 day moving average is $120.76. 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 stock has a market cap of $7.86 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 0.83 and a beta of 1.45. Carpenter Technology has a twelve month low of $58.87 and a twelve month high of $166.51.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRS. Benchmark boosted their price target on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. BTIG Research boosted their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

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.