From a technical perspective, Carpenter Technology (CRS) is looking like an interesting pick, as it just reached a key level of support. CRS recently overtook the 50-day moving average, and this suggests a short-term bullish trend.The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.CRS ...

Shares of Carpenter Technology (CRS) have gained 5% over the past four weeks to close the last trading session at $64.94, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $86.33 indicates a potential upside of 32.9%.The average comprises three short-term price targets ranging from a low of $75 to a high of $101, with a standard deviation of $13.32. While the lowest estimate indic ...

kyonntra/E+ via Getty ImagesCarpenter Technology Corporation (NYSE:CRS) reported its latest quarterly results highlighted by solid growth and firming margins. The combination of easing inflationary cost pressures and a strong demand environment has translated into good business for this leading manufacturer of high-performance specialty alloys and engineered materials. Management is guiding for a ramp-up in profitability going forward with some impressive targets looking out over the next few years. We ...

malerapaso Carpenter Technology Corporation (NYSE:CRS) recently announced expectations of 40% CAGR operating income growth from 2023 to 2027 and noted strong demand in the short term. Besides, given international expansion in almost every jurisdiction and extensive expertise in many different industries, in my view, new products could easily find demand in different markets. Under these assumptions along with inducing risks related to supply chain or higher labor rates, my financial model implied significan ...

The broader equity markets have witnessed intense volatility over the past few trading days as healthy economic and inflation data were partially negated by a relatively soft performance from some blue-chip firms. The recent GDP data revealed that the U.S. economy grew at 3.3% in the fourth quarter compared with broad-based expectations of a 2% rise. This portrays continued economic resiliency despite turbulent geopolitical conditions in the Middle East.    Earlier, the Fed had pledged to cut interest rates ...

Carpenter Technology Corporation (CRS) reported earnings of 85 cents per share for second-quarter fiscal 2024, in line with the Zacks Consensus Estimate. It had posted adjusted earnings of 13 cents in the year-ago quarter.Net sales increased 7.8% year over year to $624 million in the reported quarter. The upside was driven by a 3% year-over-year increase in shipment volume and the ongoing solid demand in most of the company’s end-use markets. However, the figure missed the Zacks Consensus Estimate of $670 m ...

Forward-looking statements Non-GAAP and other financial measures © 2024 CRS Holdings, LLC. All rights reserved. 3 Tony Thene | President and Chief Executive Officer 3.3 2.1 2.22.0 1.2 1.31.1 0.6 1.0 1.7 1.9 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 YTD Second Quarter Summary • Generated $14.6 million of cash from operations; total liquidity remains healthy at $350.1 million • Continued to see strong demand for our unique portfolio of solutions across end-use markets, with backlog at record leve ...

Carpenter Technology Corporation (NYSE:CRS) Q2 2024 Earnings Conference Call January 25, 2024 10:00 AM ET Company Participants John Huyette – Vice President of Investor Relations Tony Thene – President and Chief Executive Officer Tim Lain – Senior Vice President and Chief Financial Officer Conference Call Participants Gautam Khanna – TD Cowen Josh Sullivan – The Benchmark Company Chris Olin – Northcoast Research Samuel McKinney – KeyBanc Capital Operator Good morning, and welcome to the Carpenter Technology ...

Carpenter Technology (CRS) came out with quarterly earnings of $0.85 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this maker of stainless steels and special alloys would post earnings of $0.75 per share when it actually produced earnings of $0.88, delivering a surprise of 17.33%.Over the last four quarters, the company has surpassed consensus EPS estimates ...

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 profi ...