Wall Street analysts forecast that Carpenter Technology (CRS) will report quarterly earnings of $2.03 per share in its upcoming release, pointing to a year-over-year increase of 11.5%. It is anticipated that revenues will amount to $770.22 million, exhibiting a decrease of 3.6% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Carpenter metrics that are routinely monitored and predicted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Net Sales- End-Use Market Excluding Surcharge Revenue- Total' of $629.98 million. The estimate indicates a change of -0.9% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- End-Use Market Excluding Surcharge Revenue- Surcharge revenue' at $139.64 million. The estimate points to a change of -14.3% from the year-ago quarter.
According to the collective judgment of analysts, 'Net Sales- Performance Engineered Products' should come in at $110.82 million. The estimate points to a change of -0.4% from the year-ago quarter.
The combined assessment of analysts suggests that 'Net Sales- Specialty Alloys Operations' will likely reach $685.66 million. The estimate suggests a change of -4.2% year over year.
It is projected by analysts that the 'Volumes Sold in Pounds - Specialty Alloys Operations' will reach 47.04 million. Compared to the current estimate, the company reported 57.20 million in the same quarter of the previous year.
Analysts predict that the 'Volumes Sold in Pounds' will reach 48.80 million. Compared to the current estimate, the company reported 56.78 million in the same quarter of the previous year.
Analysts forecast 'Operating Income- Performance Engineered Products' to reach $11.14 million. Compared to the current estimate, the company reported $10.60 million in the same quarter of the previous year.
The consensus estimate for 'Operating Income- Specialty Alloys Operations' stands at $163.52 million. The estimate is in contrast to the year-ago figure of $140.90 million.
View all Key Company Metrics for Carpenter here>>>
Shares of Carpenter have experienced a change of +0.2% in the past month compared to the +4.9% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), CRS is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Carpenter Technology Corporation (CRS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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