Wall Street brokerages expect Cott Corp (NYSE:COT) (TSE:BCB) to post sales of $601.44 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Cott’s earnings. The lowest sales estimate is $598.63 million and the highest is $603.10 million. Cott posted sales of $580.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.5%. The firm is expected to issue its next earnings results before the market opens on Thursday, November 8th.
According to Zacks, analysts expect that Cott will report full year sales of $2.36 billion for the current financial year, with estimates ranging from $2.35 billion to $2.37 billion. For the next year, analysts expect that the business will report sales of $2.45 billion, with estimates ranging from $2.42 billion to $2.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Cott.
Cott (NYSE:COT) (TSE:BCB) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Cott had a return on equity of 1.92% and a net margin of 18.64%. The business had revenue of $604.00 million for the quarter, compared to the consensus estimate of $604.32 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. Cott’s quarterly revenue was up 4.0% compared to the same quarter last year.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Cott from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. Jefferies Financial Group restated a “buy” rating and set a $21.00 price objective on shares of Cott in a research report on Wednesday, June 20th. Finally, TD Securities assumed coverage on Cott in a research report on Friday, August 17th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.79.
Shares of COT stock traded down $0.37 on Friday, hitting $15.17. 862,900 shares of the company’s stock were exchanged, compared to its average volume of 897,091. The company has a quick ratio of 1.16, a current ratio of 1.49 and a debt-to-equity ratio of 1.01. Cott has a 12 month low of $14.06 and a 12 month high of $17.77. The company has a market cap of $2.24 billion, a P/E ratio of 220.86 and a beta of 0.79.
In other news, CEO Thomas Harrington bought 6,393 shares of the stock in a transaction on Monday, August 6th. The stock was acquired at an average price of $15.64 per share, with a total value of $99,986.52. Following the acquisition, the chief executive officer now directly owns 59,067 shares in the company, valued at $923,807.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen Halperin sold 34,131 shares of the company’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 completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $1,612,000. The disclosure for this sale can be found here. 3.02% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. increased its holdings in Cott by 11.1% in the 2nd quarter. Baird Financial Group Inc. now owns 35,212 shares of the company’s stock worth $583,000 after purchasing an additional 3,505 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Cott by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 134,836 shares of the company’s stock worth $2,231,000 after purchasing an additional 3,880 shares in the last quarter. US Bancorp DE increased its holdings in Cott by 206.9% in the 2nd quarter. US Bancorp DE now owns 6,758 shares of the company’s stock worth $112,000 after purchasing an additional 4,556 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of Cott by 67.8% in the second quarter. Verition Fund Management LLC now owns 18,120 shares of the company’s stock valued at $300,000 after buying an additional 7,320 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Cott in the third quarter valued at about $161,000.
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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