$CRS

4 stories mentioning CRSUpdated 40d ago

Every FINWIRES story that references CRS, newest first.

Research Alert: CFRA Lowers Opinion On Shares Of Carpenter Technology To Buy From Strong Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by $7 to $508, on an EV/EBITDA of 18.5x our FY 28 (June) EBITDA estimate, in line with CRS's average forward EV/EBITDA during the trailing 12 months of 18.6x. We raise our EPS estimates: FY 26 by $0.07 to $10.64, FY 27 by $0.62 to $13.84 and FY 28 by $0.08 to $16.60. CRS remains exceptionally well-positioned as the aerospace cycle accelerates, with structural demand inflecting and engine orders surging amid tightening nickel-based superalloy supply. We expect sustained pricing power and further margin expansion as SAO segment profitability targets 40%+ longer-term. The $400M brownfield expansion adds only modest capacity versus industry deficits, preserving favorable supply-demand dynamics through FY 28+. However, shares now trade well above historical EV/EBITDA multiples, prompting our downgrade despite strong fundamentals. After the 112% increase in share price in the last year, we think CRS is baking in most of the positive fundamentals, leaving less potential upside.

$CRS

Research52d ago

Research Alert: Carpenter Technology Posts Strong Beat In Q3 Fy 26; Margin Expansion Continues

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Carpenter Technology posted record Q3 FY 26 (Jun.) operating income of $186.5M (+35% Y/Y, +20% sequential) with EPS of $2.77 beating consensus by $0.13, while revenue of $811.5M grew 12% Y/Y and exceeded estimates by 2%. The SAO segment achieved record operating margins of 35.6%, expanding from 33.1% in the prior quarter, fueled by product mix optimization and pricing discipline. Management raised FY 26 operating income guidance to $700M-$705M (from $680M-$700M), representing at least 33% growth, with Q4 guidance of $205M-$210M. Aerospace demand acceleration was evident with commercial structural bookings increasing sequentially and A&D revenue up 17% to $435.6M. Operating cash flow surged 161% to $193.5M while adjusted free cash flow increased 267% to $124.8M despite higher capex. We believe the convergence of sustained, over-35% margins, accelerating long-term contracts, and robust cash generation suggests Carpenter has fundamentally reset its earnings power in a supply-constrained specialty materials cycle.

$CRS

Wire64d ago

Carpenter Technology Keeps Quarterly Dividend at $0.20 a Share, Payable June 4 to Holders of Record as of April 28

$CRS

Research64d ago

Research Alert: CFRA Maintains Strong Buy View On Shares Of Carpenter Technology Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price by $114 to $501, based on an EV/EBITDA of 19.0x our FY 28 (Jun.) EBITDA estimate, above CRS's TTM avg. fwd EV/EBITDA of 18.2x but a discount to peers' avg. fwd EV/EBITDA of 21.6x. We lift our FY 26 EPS estimate by $0.11 to $10.57 and FY 27 by $0.46 to $13.22. We initiate our FY 28 EPS forecast at $16.52. With only three qualified global suppliers of premium nickel-based superalloys, CRS enjoys exceptional pricing power, evidenced by recent long-term agreements with 30%+ price increases. The company delivered its 16th consecutive quarter of margin expansion in Q2 FY 26, with SAO margins at a record 33.1%. Management's raised FY 26 operating income guidance of $680M-$700M represents 30%-33% growth over record FY 25, while the FY 27 target of $765M-$800M remains intact, with management signaling focus on exceeding these levels. The $400M brownfield expansion adds only modest capacity relative to surging aerospace build rates targeting 2,100+ aircraft annually, 30% above pre-Covid peaks.

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