Cooper Tire & Rubber Co (CTB) Expected to Announce Earnings of $0.24 Per Share

Share on StockTwits

Wall Street brokerages predict that Cooper Tire & Rubber Co (NYSE:CTB) will announce earnings of $0.24 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cooper Tire & Rubber’s earnings, with estimates ranging from $0.17 to $0.33. Cooper Tire & Rubber posted earnings of $0.85 per share in the same quarter last year, which would suggest a negative year over year growth rate of 71.8%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Cooper Tire & Rubber will report full-year earnings of $1.84 per share for the current financial year, with EPS estimates ranging from $1.63 to $2.00. For the next financial year, analysts anticipate that the business will post earnings of $3.10 per share, with EPS estimates ranging from $2.78 to $3.28. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Cooper Tire & Rubber.

Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings data on Monday, April 30th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.41). Cooper Tire & Rubber had a return on equity of 11.73% and a net margin of 2.60%. The firm had revenue of $601.50 million during the quarter, compared to the consensus estimate of $641.21 million. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis.

CTB has been the topic of a number of research reports. Zacks Investment Research raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. ValuEngine downgraded Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Longbow Research downgraded Cooper Tire & Rubber from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, March 13th. B. Riley dropped their price objective on Cooper Tire & Rubber from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Cooper Tire & Rubber from $40.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 1st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $41.50.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Cooper Tire & Rubber by 0.5% in the 4th quarter. BlackRock Inc. now owns 5,612,187 shares of the company’s stock worth $198,392,000 after acquiring an additional 28,418 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cooper Tire & Rubber by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,252,582 shares of the company’s stock valued at $124,601,000 after buying an additional 302,265 shares in the last quarter. Fairpointe Capital LLC grew its holdings in shares of Cooper Tire & Rubber by 5.2% during the fourth quarter. Fairpointe Capital LLC now owns 3,901,156 shares of the company’s stock valued at $137,905,000 after buying an additional 194,152 shares in the last quarter. LSV Asset Management grew its holdings in shares of Cooper Tire & Rubber by 0.8% during the first quarter. LSV Asset Management now owns 2,522,497 shares of the company’s stock valued at $73,909,000 after buying an additional 20,000 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Cooper Tire & Rubber by 11.4% during the first quarter. Nuveen Asset Management LLC now owns 1,140,869 shares of the company’s stock valued at $33,427,000 after buying an additional 116,766 shares in the last quarter.

CTB opened at $26.30 on Wednesday. Cooper Tire & Rubber has a one year low of $22.58 and a one year high of $40.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.50 and a current ratio of 2.59. The firm has a market capitalization of $1.34 billion, a PE ratio of 9.89, a PEG ratio of 3.61 and a beta of 0.46.

The business also recently announced a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 1st were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, May 31st. Cooper Tire & Rubber’s payout ratio is 13.55%.

Cooper Tire & Rubber Company Profile

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.

Get a free copy of the Zacks research report on Cooper Tire & Rubber (CTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cooper Tire & Rubber (NYSE:CTB)

Receive News & Ratings for Cooper Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply