Carpenter Technology Corporation (CRS) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $0.30 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $0.33. The company posted revenue of $456.30 million in the period, compared to analysts expectations of $470.75 million. The company’s revenue was down -20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.
Many Wall Street Analysts have commented on Carpenter Technology Corporation. Shares were Reiterated by Rosenblatt on Feb 5, 2016 to “Buy” and Lowered the Price Target to $ 42 from a previous price target of $50 .
Carpenter Technology Corporation closed down -0.59 points or -1.60% at $36.23 with 7,12,242 shares getting traded on Friday. Post opening the session at $36.73, the shares hit an intraday low of $35.95 and an intraday high of $37.19 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Carpenter Technology Corporation is engaged in the manufacture fabrication and distribution of specialty metals. It develops manufactures and distributes cast/wrought and powder metal stainless steels and special alloys used in the oil and gas industry. It provides material solutions to the changing needs of the aerospace and defense energy transportation medical and industrial and consumer industries. The Company operates in two segments: Specialty Alloys Operations (SAO) comprises companys alloy and stainless steel manufacturing operations and Performance Engineered Products (PEP) comprises companys differentiated operations which include Dynamet titanium business Carpenter Powder Products business Amega West business Specialty Steel Supply business and Latrobe and Mexico distribution businesses. Its product line includes Special alloys Stainless steels Titanium products Powder metals and Alloy and tool steel.