Wall Street brokerages expect Cooper Tire & Rubber Co (NYSE:CTB) to report $773.06 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Cooper Tire & Rubber’s earnings, with estimates ranging from $744.62 million to $797.45 million. Cooper Tire & Rubber posted sales of $757.04 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Cooper Tire & Rubber will report full year sales of $2.81 billion for the current fiscal year, with estimates ranging from $2.78 billion to $2.84 billion. For the next financial year, analysts forecast that the company will post sales of $2.89 billion, with estimates ranging from $2.84 billion to $2.93 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Cooper Tire & Rubber.
Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, October 29th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.62. The firm had revenue of $737.70 million for the quarter, compared to analysts’ expectations of $748.54 million. Cooper Tire & Rubber had a net margin of 1.25% and a return on equity of 8.58%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share.
CTB has been the topic of several research analyst reports. Zacks Investment Research raised shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine raised shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a report on Tuesday, August 21st. Finally, Wolfe Research initiated coverage on shares of Cooper Tire & Rubber in a report on Tuesday, October 2nd. They issued an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.00.
Shares of Cooper Tire & Rubber stock traded down $0.06 during trading on Friday, hitting $33.11. The stock had a trading volume of 30,175 shares, compared to its average volume of 1,133,332. The stock has a market cap of $1.64 billion, a P/E ratio of 10.65, a PEG ratio of 4.37 and a beta of 0.57. Cooper Tire & Rubber has a 12 month low of $22.58 and a 12 month high of $40.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 2.55.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a $0.105 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.27%. Cooper Tire & Rubber’s dividend payout ratio is presently 13.55%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brand Asset Management Group Inc. bought a new position in Cooper Tire & Rubber in the second quarter valued at $107,000. Oppenheimer & Co. Inc. bought a new position in Cooper Tire & Rubber in the second quarter valued at $230,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Cooper Tire & Rubber in the second quarter valued at $281,000. Brandes Investment Partners LP bought a new position in Cooper Tire & Rubber in the second quarter valued at $285,000. Finally, Xact Kapitalforvaltning AB bought a new position in Cooper Tire & Rubber in the first quarter valued at $334,000.
About Cooper Tire & Rubber
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.
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