Cott (NYSE:COT) (TSE:BCB) posted its earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.08), Morningstar.com reports. Cott had a net margin of 18.64% and a return on equity of 1.92%. The company had revenue of $609.30 million for the quarter, compared to the consensus estimate of $603.37 million. During the same quarter last year, the business earned $0.30 earnings per share. Cott’s quarterly revenue was up 4.9% on a year-over-year basis. Cott updated its Q3 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of NYSE:COT traded down $0.15 during midday trading on Friday, hitting $15.67. The company’s stock had a trading volume of 130,332 shares, compared to its average volume of 1,175,735. The company has a market cap of $2.12 billion, a P/E ratio of 223.71 and a beta of 0.81. Cott has a fifty-two week low of $13.99 and a fifty-two week high of $17.77. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.49.
COT has been the topic of several research analyst reports. TD Securities initiated coverage on Cott in a research report on Friday, August 17th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded Cott from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Cott in a research report on Thursday, August 2nd. Finally, Citigroup set a $19.00 price target on Cott and gave the company a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Cott presently has a consensus rating of “Buy” and a consensus price target of $18.54.
In other news, Director Stephen Halperin sold 34,131 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $16.12, for a total value of $550,191.72. Following the sale, the director now directly owns 100,000 shares of the company’s stock, valued at $1,612,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.06% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in COT. Legal & General Group Plc grew its position in Cott by 17.4% during the first quarter. Legal & General Group Plc now owns 71,921 shares of the company’s stock worth $1,057,000 after buying an additional 10,671 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Cott during the second quarter worth about $526,000. Acadian Asset Management LLC acquired a new stake in Cott during the second quarter worth about $5,293,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Cott during the second quarter worth about $546,000. Finally, Wells Fargo & Company MN grew its position in Cott by 2.5% during the second quarter. Wells Fargo & Company MN now owns 1,917,864 shares of the company’s stock worth $31,741,000 after buying an additional 47,456 shares in the last quarter.
Cott Company Profile
Cott Corporation, together with its subsidiaries, operates as a route based service company in North America and Europe. It operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. The company's product portfolio includes bottled water, coffee, brewed tea, water dispensers, coffee and tea brewers, specialty coffee, liquid coffee or tea concentrate, single cup coffee, cold brewed coffee, iced blend coffee or tea beverages, blended teas, hot tea, sparkling tea, coffee or tea extract solutions, filtration equipment, hot chocolate, soups, malt drinks, creamers/whiteners, cereals, beverage concentrates, and mineral water.
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