Zacks: Brokerages Expect Cooper Tire & Rubber Company (CTB) to Announce $0.89 Earnings Per Share
Equities research analysts expect Cooper Tire & Rubber Company (NYSE:CTB) to report $0.89 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Cooper Tire & Rubber’s earnings, with the highest EPS estimate coming in at $1.02 and the lowest estimate coming in at $0.81. Cooper Tire & Rubber reported earnings per share of $1.04 during the same quarter last year, which would indicate a negative year over year growth rate of 14.4%. The company is expected to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Cooper Tire & Rubber will report full year earnings of $3.40 per share for the current year, with EPS estimates ranging from $3.20 to $3.61. For the next financial year, analysts expect that the business will post earnings of $4.08 per share, with EPS estimates ranging from $3.65 to $4.45. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Cooper Tire & Rubber.
Cooper Tire & Rubber (NYSE:CTB) last posted its earnings results on Friday, August 4th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The company had revenue of $720.75 million for the quarter, compared to the consensus estimate of $775.00 million. During the same quarter in the prior year, the company earned $1.27 earnings per share. Cooper Tire & Rubber’s revenue was down 2.6% on a year-over-year basis.
Several research firms have weighed in on CTB. FBR & Co reiterated a “buy” rating and set a $53.00 price target on shares of Cooper Tire & Rubber in a research note on Tuesday, September 5th. Standpoint Research upgraded Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and set a $40.00 price target on shares of Cooper Tire & Rubber in a research note on Thursday, July 6th. BidaskClub upgraded Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.00.
Cooper Tire & Rubber (NYSE:CTB) traded up 1.87% on Monday, reaching $35.45. The company’s stock had a trading volume of 263,109 shares. Cooper Tire & Rubber has a 1-year low of $32.78 and a 1-year high of $44.50. The firm’s 50 day moving average price is $34.23 and its 200-day moving average price is $37.86. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.81 and a beta of -0.03.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.105 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.42 annualized dividend and a yield of 1.18%. Cooper Tire & Rubber’s payout ratio is presently 11.67%.
Institutional investors have recently bought and sold shares of the business. FNY Partners Fund LP purchased a new stake in Cooper Tire & Rubber during the 1st quarter valued at about $110,000. Neuburgh Advisers LLC purchased a new stake in shares of Cooper Tire & Rubber in the first quarter worth about $136,000. LS Investment Advisors LLC purchased a new stake in shares of Cooper Tire & Rubber in the first quarter worth about $163,000. Strs Ohio boosted its stake in shares of Cooper Tire & Rubber by 81.0% in the first quarter. Strs Ohio now owns 3,800 shares of the company’s stock worth $168,000 after buying an additional 1,700 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in shares of Cooper Tire & Rubber by 75.2% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock worth $145,000 after buying an additional 1,729 shares during the last quarter. Institutional investors and hedge funds own 94.58% of the company’s stock.
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About Cooper Tire & Rubber
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
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