Wall Street analysts expect Cooper Tire & Rubber Co (NYSE:CTB) to report $607.85 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Cooper Tire & Rubber’s earnings, with the lowest sales estimate coming in at $602.00 million and the highest estimate coming in at $617.77 million. Cooper Tire & Rubber posted sales of $601.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The business is expected to announce its next earnings report before the market opens on Monday, April 29th.
According to Zacks, analysts expect that Cooper Tire & Rubber will report full year sales of $2.88 billion for the current fiscal year, with estimates ranging from $2.84 billion to $2.90 billion. For the next year, analysts anticipate that the firm will report sales of $2.98 billion, with estimates ranging from $2.90 billion to $3.03 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Cooper Tire & Rubber.
Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings results on Tuesday, February 19th. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.10. The company had revenue of $770.50 million for the quarter, compared to analyst estimates of $773.82 million. Cooper Tire & Rubber had a net margin of 2.73% and a return on equity of 9.12%. Cooper Tire & Rubber’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $0.50 EPS.
CTB has been the topic of a number of research analyst reports. Longbow Research reiterated a “hold” rating on shares of Cooper Tire & Rubber in a report on Friday, January 18th. ValuEngine lowered shares of Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a report on Monday, January 7th. TheStreet lowered shares of Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. Finally, Zacks Investment Research lowered shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Cooper Tire & Rubber has a consensus rating of “Hold” and a consensus price target of $37.00.
Several hedge funds have recently modified their holdings of CTB. Wells Fargo & Company MN increased its stake in Cooper Tire & Rubber by 2.1% during the 3rd quarter. Wells Fargo & Company MN now owns 117,901 shares of the company’s stock worth $3,337,000 after buying an additional 2,444 shares during the period. Prudential Financial Inc. increased its stake in Cooper Tire & Rubber by 9.7% during the 3rd quarter. Prudential Financial Inc. now owns 92,992 shares of the company’s stock worth $2,632,000 after buying an additional 8,230 shares during the period. Bank of New York Mellon Corp increased its stake in Cooper Tire & Rubber by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 850,119 shares of the company’s stock worth $24,058,000 after buying an additional 32,927 shares during the period. BlackRock Inc. increased its stake in Cooper Tire & Rubber by 2.0% during the 3rd quarter. BlackRock Inc. now owns 7,185,065 shares of the company’s stock worth $203,338,000 after buying an additional 139,782 shares during the period. Finally, United Services Automobile Association increased its stake in Cooper Tire & Rubber by 30.2% during the 3rd quarter. United Services Automobile Association now owns 136,032 shares of the company’s stock worth $3,850,000 after buying an additional 31,591 shares during the period.
Shares of CTB traded up $0.27 during mid-day trading on Friday, reaching $32.73. The company had a trading volume of 2,563 shares, compared to its average volume of 324,973. The firm has a market cap of $1.64 billion, a PE ratio of 14.99 and a beta of 0.60. Cooper Tire & Rubber has a fifty-two week low of $22.58 and a fifty-two week high of $35.36. The company has a quick ratio of 1.28, a current ratio of 1.92 and a debt-to-equity ratio of 0.10.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 28th. Cooper Tire & Rubber’s dividend payout ratio is presently 19.27%.
Cooper Tire & Rubber Company Profile
Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells 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, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.
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