Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. 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 drilling tools, and metal powders and parts. It serves aerospace, defense, medical, transportation, energy, industrial, and consumer markets. The company was founded in 1889 and is headquartered in Philadelphia, Pennsylvania.
IPO Year:
Exchange: NYSE
Website: carpentertechnology.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/22/2024 | $220.00 | Overweight | Analyst |
| 7/30/2024 | $120.00 → $165.00 | Buy | BTIG Research |
| 6/26/2024 | $120.00 | Buy | BTIG Research |
| 6/25/2024 | $144.00 | Buy | Deutsche Bank |
| 5/6/2024 | Buy → Neutral | Northcoast | |
| 8/25/2023 | $73.00 | Buy | Northcoast |
| 9/12/2022 | $45.00 | Market Perform → Outperform | Cowen |
| 2/11/2022 | $52.00 → $53.00 | Neutral → Overweight | JP Morgan |
| 1/13/2022 | $40.00 | Hold → Buy | The Benchmark Company |
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Delivered Record First Quarter Operating Income Exceeded First Quarter Operating Income Guidance for Specialty Alloys Operations SegmentExpanded Operating Margins in Specialty Alloys Operations SegmentGenerated Positive Adjusted Free Cash FlowRepurchased Shares Against Authorized Share Repurchase ProgramStrengthening FY25 Outlook PHILADELPHIA, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") today announced financial results for the fiscal first quarter ended September 30, 2024. For the quarter, the Company reported operating income of $113.6 million and earnings per diluted share of $1.67. Excluding the special item discussed below, adjust
PHILADELPHIA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock, payable December 5, 2024, to shareholders of record on October 22, 2024. About Carpenter Technology Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, medical, transportation, energy, industrial, and consumer electronics markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys, including titanium, ni
PHILADELPHIA, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) plans to host a conference call and webcast on Thursday, October 24, 2024 at 10:00 a.m. ET to discuss the results of operations for the first quarter of fiscal year 2025, ended September 30, 2024. The call and webcast will follow the release of first quarter fiscal 2025 financial results before the market opens on Thursday, October 24, 2024. Conference Call and Webcast Details What: Carpenter Technology First Quarter Fiscal 2025 Conference Call Date: Thursday October 24, 2024 Time: 10:00 a.m. Eastern Time Live Call: +1 412-317-9259 Live and Archived Webcast: ir.carpentertechnology.com About
PHILADELPHIA, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock, payable September 5, 2024, to shareholders of record on August 27, 2024. The ex-dividend date (the date the common stock trades without the dividend) is August 26, 2024. About Carpenter Technology Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, medical, transportation, energy, industrial, and consumer electronics markets. Founded in 1889, Carpenter T
Exceeded Fourth Quarter Operating Income Guidance Delivered Most Profitable Year in Company History Strong Fourth Quarter Adjusted Free Cash Flow Pulling Operating Income Target Forward 2 Years to Fiscal Year 2025 Authorized Share Repurchase Program PHILADELPHIA, July 25, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") today announced financial results for the fiscal fourth quarter and year ended June 30, 2024. For the quarter, the Company reported operating income of $108.3 million, and earnings per diluted s
PHILADELPHIA, July 09, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) plans to host a conference call and webcast on Thursday, July 25, 2024 at 10:00 a.m. ET to discuss the results of operations for the fourth quarter of fiscal year 2024, ended June 30, 2024. The call and webcast will follow the release of fourth quarter fiscal 2024 financial results before the market opens on Thursday, July 25, 2024. Conference Call and Webcast Details What: Carpenter Technology Fourth Quarter Fiscal 2024 Conference Call Date: Thursday July 25, 2024 Time: 10:00 a.m. Eastern Time Live Call: +1 412-317-9259 Live and Archived Webcast: ir.carpentertechnology.com About Carpenter T
Exceeded Third Quarter Operating Income GuidanceIncreasing Fourth Quarter Operating Income OutlookGenerated Positive Free Cash Flow PHILADELPHIA, May 01, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") today announced financial results for the fiscal third quarter ended March 31, 2024. For the quarter, the Company reported operating income of $75.9 million, and earnings per diluted share of $0.12. Excluding noncash special items discussed below, adjusted operating income was $90.0 million and adjusted earnings per diluted share was $1.19 for the current quarter. Third Quarter Fiscal Year 2024 Highlights Delivered $90.0 million of adjusted
PHILADELPHIA, April 12, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock, payable June 6, 2024, to shareholders of record on April 23, 2024. The ex-dividend date (the date the common stock trades without the dividend) is April 22, 2024. About Carpenter Technology Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, transportation, energy, industrial, medical, and consumer electronics markets. Founded in 1889, Carpenter Technology
PHILADELPHIA , April 05, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) plans to host a conference call and webcast on Wednesday, May 1, 2024 at 10:00 a.m. ET to discuss the results of operations for the third quarter of fiscal year 2024, ended March 31, 2024. The call and webcast will follow the release of third quarter fiscal 2024 financial results before the market opens on Wednesday, May 1, 2024. Conference Call and Webcast Details What: Carpenter Technology Third Quarter Fiscal 2024 Conference Call Date: Wednesday, May 1, 2024 Time: 10:00 a.m. Eastern Time Live Call: +1 412-317-9259 Live and Archived Webcast: ir.carpentertechnology.
PHILADELPHIA, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") today announced financial results for the fiscal second quarter ended December 31, 2023. For the quarter, the Company reported net income of $42.7 million, or $0.85 earnings per diluted share. Second Quarter Fiscal Year 2024 Highlights Reported earnings per diluted share of $0.85 Achieved operating income of $69.8 million, up from $69.0 million in the previous quarter, completing the second most profitable first half on recordExceeded expectations in Specialty Alloys Operations ("SAO") segment with operating income of $83.3 million, up from $80.8 million in the previous quarter
Delivered Record First Quarter Operating Income Exceeded First Quarter Operating Income Guidance for Specialty Alloys Operations SegmentExpanded Operating Margins in Specialty Alloys Operations SegmentGenerated Positive Adjusted Free Cash FlowRepurchased Shares Against Authorized Share Repurchase ProgramStrengthening FY25 Outlook PHILADELPHIA, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") today announced financial results for the fiscal first quarter ended September 30, 2024. For the quarter, the Company reported operating income of $113.6 million and earnings per diluted share of $1.67. Excluding the special item discussed below, adjust
PHILADELPHIA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced today that Howard Yu has been appointed to the Company's Board of Directors, effective October 9, 2024. Mr. Yu brings more than 25 years of financial leadership experience in large multinational organizations. Mr. Yu is currently the Executive Vice President, Chief Financial Officer for Ball Corporation, a supplier of innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers. Prior to his current role, Mr. Yu served as Senior Vice President and Chief Financial Officer for Envista, a publicly traded global company and spin-off of Dana
PHILADELPHIA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock, payable December 5, 2024, to shareholders of record on October 22, 2024. About Carpenter Technology Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, medical, transportation, energy, industrial, and consumer electronics markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys, including titanium, ni
PHILADELPHIA, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) plans to host a conference call and webcast on Thursday, October 24, 2024 at 10:00 a.m. ET to discuss the results of operations for the first quarter of fiscal year 2025, ended September 30, 2024. The call and webcast will follow the release of first quarter fiscal 2025 financial results before the market opens on Thursday, October 24, 2024. Conference Call and Webcast Details What: Carpenter Technology First Quarter Fiscal 2025 Conference Call Date: Thursday October 24, 2024 Time: 10:00 a.m. Eastern Time Live Call: +1 412-317-9259 Live and Archived Webcast: ir.carpentertechnology.com About
PHILADELPHIA, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock, payable September 5, 2024, to shareholders of record on August 27, 2024. The ex-dividend date (the date the common stock trades without the dividend) is August 26, 2024. About Carpenter Technology Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, medical, transportation, energy, industrial, and consumer electronics markets. Founded in 1889, Carpenter T
Exceeded Fourth Quarter Operating Income Guidance Delivered Most Profitable Year in Company History Strong Fourth Quarter Adjusted Free Cash Flow Pulling Operating Income Target Forward 2 Years to Fiscal Year 2025 Authorized Share Repurchase Program PHILADELPHIA, July 25, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") today announced financial results for the fiscal fourth quarter and year ended June 30, 2024. For the quarter, the Company reported operating income of $108.3 million, and earnings per diluted s
PHILADELPHIA, July 09, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) plans to host a conference call and webcast on Thursday, July 25, 2024 at 10:00 a.m. ET to discuss the results of operations for the fourth quarter of fiscal year 2024, ended June 30, 2024. The call and webcast will follow the release of fourth quarter fiscal 2024 financial results before the market opens on Thursday, July 25, 2024. Conference Call and Webcast Details What: Carpenter Technology Fourth Quarter Fiscal 2024 Conference Call Date: Thursday July 25, 2024 Time: 10:00 a.m. Eastern Time Live Call: +1 412-317-9259 Live and Archived Webcast: ir.carpentertechnology.com About Carpenter T
Exceeded Third Quarter Operating Income GuidanceIncreasing Fourth Quarter Operating Income OutlookGenerated Positive Free Cash Flow PHILADELPHIA, May 01, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") today announced financial results for the fiscal third quarter ended March 31, 2024. For the quarter, the Company reported operating income of $75.9 million, and earnings per diluted share of $0.12. Excluding noncash special items discussed below, adjusted operating income was $90.0 million and adjusted earnings per diluted share was $1.19 for the current quarter. Third Quarter Fiscal Year 2024 Highlights Delivered $90.0 million of adjusted
PHILADELPHIA, April 12, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock, payable June 6, 2024, to shareholders of record on April 23, 2024. The ex-dividend date (the date the common stock trades without the dividend) is April 22, 2024. About Carpenter Technology Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, transportation, energy, industrial, medical, and consumer electronics markets. Founded in 1889, Carpenter Technology
PHILADELPHIA , April 05, 2024 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) plans to host a conference call and webcast on Wednesday, May 1, 2024 at 10:00 a.m. ET to discuss the results of operations for the third quarter of fiscal year 2024, ended March 31, 2024. The call and webcast will follow the release of third quarter fiscal 2024 financial results before the market opens on Wednesday, May 1, 2024. Conference Call and Webcast Details What: Carpenter Technology Third Quarter Fiscal 2024 Conference Call Date: Wednesday, May 1, 2024 Time: 10:00 a.m. Eastern Time Live Call: +1 412-317-9259 Live and Archived Webcast: ir.carpentertechnology.
Analyst initiated coverage of Carpenter Tech with a rating of Overweight and set a new price target of $220.00
BTIG Research reiterated coverage of Carpenter Tech with a rating of Buy and set a new price target of $165.00 from $120.00 previously
BTIG Research initiated coverage of Carpenter Tech with a rating of Buy and set a new price target of $120.00
Deutsche Bank initiated coverage of Carpenter Tech with a rating of Buy and set a new price target of $144.00
Northcoast downgraded Carpenter Tech from Buy to Neutral
Northcoast initiated coverage of Carpenter Tech with a rating of Buy and set a new price target of $73.00
Cowen upgraded Carpenter Tech from Market Perform to Outperform and set a new price target of $45.00
JP Morgan upgraded Carpenter Tech from Neutral to Overweight and set a new price target of $53.00 from $52.00 previously
The Benchmark Company upgraded Carpenter Tech from Hold to Buy and set a new price target of $40.00
JP Morgan initiated coverage of Carpenter Tech with a rating of Neutral and set a new price target of $49.00
Jad Dowdy to assume new role of Senior Vice President of Financial Planning and Analysis Danimer Scientific, Inc. (NYSE:DNMR) ("Danimer" or the "Company"), a leading next generation bioplastics company focused on the development and production of biodegradable materials, today announced the appointment of Michael (Mike) A. Hajost as Chief Financial Officer. Hajost will succeed John A. (Jad) Dowdy, III, who will assume the new role of Senior Vice President, Financial Planning and Analysis. Hajost will join the Company on February 7, 2022, as special advisor to Danimer's Chief Executive Officer Stephen E. Croskrey before assuming the CFO position in early March 2022. Hajost most recently se
Fiscal Year 2025 Outlook Expect operating income to be in the range of $460 million to $500 million, pulling forward financial goal 2 years from fiscal year 2027 to fiscal year 2025 With operating income guidance, expect to generate $250 million to $300 million in adjusted free cash flow, which represents approximately 85 percent conversion rate For first quarter of fiscal year 2025, anticipate between $114 million and $120 million in operating income Well positioned for continued growth beyond fiscal year 2025 with strong market demand outlook for our broad portfolio of specialized solutions, increasing productivity, optimizing product mix and pricing actions
Carpenter Tech (NYSE:CRS) has outperformed the market over the past 5 years by 7.33% on an annualized basis producing an average annual return of 20.52%. Currently, Carpenter Tech has a market capitalization of $5.91 billion. Buying $100 In CRS: If an investor had bought $100 of CRS stock 5 years ago, it would be worth $259.11 today based on a price of $119.18 for CRS at the time of writing. Carpenter Tech's Performance Over Last 5 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine
Carpenter Tech (NYSE:CRS) has outperformed the market over the past 20 years by 2.08% on an annualized basis producing an average annual return of 10.65%. Currently, Carpenter Tech has a market capitalization of $5.84 billion. Buying $100 In CRS: If an investor had bought $100 of CRS stock 20 years ago, it would be worth $767.08 today based on a price of $117.77 for CRS at the time of writing. Carpenter Tech's Performance Over Last 20 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content eng
Carpenter Tech's (NYSE:CRS) short percent of float has risen 9.58% since its last report. The company recently reported that it has 1.30 million shares sold short, which is 3.66% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.3 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest i
Deutsche Bank analyst Scott Deuschle initiates coverage on Carpenter Tech (NYSE:CRS) with a Buy rating and announces Price Target of $144.
Northcoast Research analyst Chris Olin downgrades Carpenter Tech (NYSE:CRS) from Neutral to Sell and announces $89 price target.
During the last three months, 4 analysts shared their evaluations of Carpenter Tech (NYSE:CRS), revealing diverse outlooks from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 4 0 0 0 0 Last 30D 1 0 0 0 0 1M Ago 1 0 0 0 0 2M Ago 2 0 0 0 0 3M Ago 0 0 0 0 0 Analysts have set 12-month price targets for Carpenter Tech, revealing an average target of $130.25, a high estimate of $140.00, and a low estimate of $116.00. Witnessing a positive shift, the current a