Carpenter Technology (NYSE:CRS – Get Free Report) announced its earnings results on Wednesday. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.25, Briefing.com reports. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The company had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. During the same period in the previous year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year.
Carpenter Technology Price Performance
Shares of CRS traded up $3.74 during mid-day trading on Friday, reaching $103.64. The stock had a trading volume of 892,810 shares, compared to its average volume of 700,732. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 39.43 and a beta of 1.47. Carpenter Technology has a 12 month low of $44.40 and a 12 month high of $104.85. The business has a fifty day moving average of $74.07 and a 200 day moving average of $69.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 3.20.
Carpenter Technology Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, April 22nd. This represents a $0.80 annualized dividend and a yield of 0.77%. This is an increase from Carpenter Technology’s previous quarterly dividend of $0.18. Carpenter Technology’s payout ratio is currently 30.42%.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on Carpenter Technology
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.
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