Wall Street brokerages expect Carpenter Technology Co. (NYSE:CRS) to announce sales of $631.06 million for the current quarter, according to Zacks. Four analysts have provided estimates for Carpenter Technology’s earnings, with the highest sales estimate coming in at $636.10 million and the lowest estimate coming in at $628.95 million. Carpenter Technology reported sales of $618.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The business is scheduled to report its next earnings results on Thursday, August 1st.

On average, analysts expect that Carpenter Technology will report full year sales of $2.37 billion for the current fiscal year. For the next financial year, analysts expect that the firm will report sales of $2.52 billion, with estimates ranging from $2.43 billion to $2.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Carpenter Technology.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. The business had revenue of $609.90 million for the quarter, compared to the consensus estimate of $585.08 million. Carpenter Technology had a net margin of 6.83% and a return on equity of 9.93%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS.

CRS has been the topic of several research reports. Zacks Investment Research downgraded shares of CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Longbow Research set a $59.00 price target on shares of Carpenter Technology and gave the stock a “buy” rating in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $52.50.

NYSE CRS traded down $0.70 on Thursday, hitting $44.35. 18,016 shares of the company were exchanged, compared to its average volume of 273,709. The firm’s 50 day simple moving average is $44.76. The company has a market cap of $2.13 billion, a P/E ratio of 17.84 and a beta of 2.46. The company has a current ratio of 2.53, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. Carpenter Technology has a 1-year low of $32.77 and a 1-year high of $60.78.

A number of institutional investors have recently added to or reduced their stakes in the business. Mason Street Advisors LLC lifted its position in Carpenter Technology by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 25,195 shares of the basic materials company’s stock valued at $1,155,000 after purchasing an additional 383 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Carpenter Technology by 2.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,709 shares of the basic materials company’s stock valued at $666,000 after purchasing an additional 414 shares during the period. SG Americas Securities LLC increased its stake in shares of Carpenter Technology by 16.7% in the 1st quarter. SG Americas Securities LLC now owns 3,592 shares of the basic materials company’s stock valued at $165,000 after acquiring an additional 515 shares during the last quarter. Comerica Bank increased its stake in shares of Carpenter Technology by 2.0% in the 4th quarter. Comerica Bank now owns 30,774 shares of the basic materials company’s stock valued at $1,336,000 after acquiring an additional 610 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Carpenter Technology by 6.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 11,999 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 674 shares during the last quarter. Institutional investors own 91.80% of the company’s stock.

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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