For its fourth fiscal quarter (ending June 30), Carpenter Technology Corp (NYSE: CRS) has reported a 140% increase in E.P.S. from $0.78 a year ago to $1.87 in the current quarter. This result exceeded the consensus estimate of $1.50 by $0.37. For the latest four quarters through June 30, E.P.S. were $3.75 versus $1.15 for the same period a year ago — an increase of 226%.
Recent Price Action
On 7/25/24, Carpenter Technology Corp (NYSE: CRS) stock enjoyed a major increase of 10.9%, closing at $134.76. Moreover, exceptionally high trading volume at 324% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 14.0% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, CRS is expected to continue to be an important Value Builder.
Carpenter Technology has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Carpenter Technology has a poor Appreciation Score of 22 but a very high Power Rating of 96, with the High Neutral Value Trend Rating the result.
Rating Review
In light of this encouraging new earnings information and very positive price change we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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