Carpenter Technology Co. (NYSE:CRS) announced a quarterly dividend on Wednesday, August 14th, NASDAQ reports. Investors of record on Tuesday, August 27th will be given a dividend of 0.20 per share by the basic materials company on Thursday, September 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, August 26th.
Carpenter Technology has increased its dividend payment by an average of 1.8% annually over the last three years. Carpenter Technology has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carpenter Technology to earn $4.62 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 17.3%.
NYSE:CRS opened at $44.13 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 2.97. The stock’s 50-day simple moving average is $46.68 and its 200 day simple moving average is $46.60. The company has a market cap of $2.29 billion, a P/E ratio of 12.75 and a beta of 2.42. Carpenter Technology has a 52-week low of $32.77 and a 52-week high of $60.78.
Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, August 1st. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $641.40 million for the quarter, compared to the consensus estimate of $637.84 million. Carpenter Technology had a return on equity of 10.33% and a net margin of 7.02%. Carpenter Technology’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. As a group, equities analysts predict that Carpenter Technology will post 3.9 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Carpenter Technology from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, June 19th. Longbow Research set a $59.00 target price on Carpenter Technology and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, ValuEngine raised Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $52.50.
About Carpenter Technology
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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