Cott Corp. (COT) Announces Quarterly Earnings Results
Cott Corp. (NYSE:COT) posted its earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The business had revenue of $885.10 million for the quarter, compared to analysts’ expectations of $873.94 million. Cott Corp. had a net margin of 0.20% and a return on equity of 4.53%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS.
Shares of Cott Corp. (NYSE:COT) opened at 13.78 on Friday. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 362.63 and a beta of 0.70. The company has a 50-day moving average of $13.76 and a 200 day moving average of $14.72. Cott Corp. has a 12-month low of $8.96 and a 12-month high of $17.38.
In other news, Director Eric Rosenfeld sold 19,582 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $17.07, for a total transaction of $334,264.74. Following the sale, the director now owns 390,065 shares in the company, valued at $6,658,409.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Walleye Trading LLC raised its stake in shares of Cott Corp. by 203.8% in the second quarter. Walleye Trading LLC now owns 7,900 shares of the company’s stock worth $110,000 after buying an additional 5,300 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Cott Corp. by 46.8% in the third quarter. Acrospire Investment Management LLC now owns 8,159 shares of the company’s stock worth $116,000 after buying an additional 2,600 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Cott Corp. during the second quarter worth $142,000. Massachusetts Financial Services Co. MA raised its stake in shares of Cott Corp. by 4.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,514 shares of the company’s stock worth $147,000 after buying an additional 450 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Cott Corp. during the third quarter worth $165,000.
Several equities analysts have recently weighed in on the stock. Jefferies Group increased their price objective on shares of Cott Corp. from $15.50 to $17.50 and gave the stock a “hold” rating in a research note on Friday, August 19th. BMO Capital Markets lowered their price objective on shares of Cott Corp. from $20.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, October 17th. TheStreet cut shares of Cott Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Cott Corp. in a research note on Wednesday, August 24th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $23.00 price objective on shares of Cott Corp. in a research note on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.55.
Cott Corp. Company Profile
Cott Corporation, along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through four segments: DSS; Cott North America; Cott United Kingdom (Cott U.K.), and All Other, which includes its Mexico segment, Royal Crown International (RCI) segment and other miscellaneous expenses.
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