Carpenter Technology Co. (NYSE:CRS) Plans $0.20 Quarterly Dividend

by · The Markets Daily

Carpenter Technology Co. (NYSE:CRS – Get Free Report) announced a quarterly dividend on Thursday, October 10th, NASDAQ reports. Shareholders of record on Tuesday, October 22nd will be given a dividend of 0.20 per share by the basic materials company on Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Tuesday, October 22nd.

Carpenter Technology has a dividend payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

CRS stock traded down $0.69 on Friday, reaching $162.00. 745,505 shares of the company were exchanged, compared to its average volume of 584,262. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84. The firm has a market capitalization of $8.09 billion, a PE ratio of 43.97, a PEG ratio of 0.83 and a beta of 1.45. Carpenter Technology has a 12 month low of $58.87 and a 12 month high of $166.51. The stock’s fifty day moving average price is $146.25 and its 200 day moving average price is $116.72.

Carpenter Technology (NYSE:CRS – Get Free Report) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The business had revenue of $798.70 million for the quarter, compared to the consensus estimate of $763.76 million. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Carpenter Technology will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on CRS. Northcoast Research reissued a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a research note on Friday, June 14th. BTIG Research lifted their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price objective on the stock. Finally, Benchmark raised their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

View Our Latest Stock Analysis on Carpenter Technology

About Carpenter Technology

(Get Free Report)

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.

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