Somewhat Favorable News Coverage Somewhat Unlikely to Impact Carpenter Technology (CRS) Stock Price

News stories about Carpenter Technology (NYSE:CRS) have been trending somewhat positive this week, according to Accern. Accern scores the sentiment of media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Carpenter Technology earned a news impact score of 0.13 on Accern’s scale. Accern also assigned press coverage about the basic materials company an impact score of 45.4891054416575 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

Shares of Carpenter Technology (NYSE:CRS) traded down $1.04 during mid-day trading on Friday, reaching $50.99. 217,126 shares of the company traded hands, compared to its average volume of 287,848. The stock has a market capitalization of $2,390.00, a price-to-earnings ratio of 31.67 and a beta of 2.07. The company has a current ratio of 2.91, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. Carpenter Technology has a 12 month low of $34.24 and a 12 month high of $53.61.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $479.80 million for the quarter, compared to analyst estimates of $448.46 million. Carpenter Technology had a net margin of 4.06% and a return on equity of 6.67%. Carpenter Technology’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. analysts anticipate that Carpenter Technology will post 2.27 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, October 24th were paid a $0.18 dividend. The ex-dividend date was Monday, October 23rd. This represents a $0.72 annualized dividend and a yield of 1.41%. Carpenter Technology’s dividend payout ratio (DPR) is 44.72%.

CRS has been the topic of several research reports. Cowen lifted their price objective on shares of Carpenter Technology from $37.00 to $53.00 in a report on Thursday, October 26th. Zacks Investment Research raised shares of Carpenter Technology from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, KeyCorp reissued a “hold” rating on shares of Carpenter Technology in a report on Thursday, November 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.80.

In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $49.09, for a total value of $561,982.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.51% of the stock is owned by company insiders.

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About Carpenter Technology

Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.

Insider Buying and Selling by Quarter for Carpenter Technology (NYSE:CRS)

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