Equities analysts expect that Cooper Tire & Rubber Co (NYSE:CTB) will post sales of $747.42 million for the current quarter, Zacks reports. Three analysts have provided estimates for Cooper Tire & Rubber’s earnings, with estimates ranging from $714.92 million to $770.25 million. Cooper Tire & Rubber posted sales of $733.84 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Cooper Tire & Rubber will report full year sales of $2.84 billion for the current financial year, with estimates ranging from $2.76 billion to $2.91 billion. For the next financial year, analysts forecast that the company will report sales of $2.96 billion per share, with estimates ranging from $2.85 billion to $3.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Cooper Tire & Rubber.
Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings data on Monday, August 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. Cooper Tire & Rubber had a return on equity of 9.24% and a net margin of 1.53%. The business had revenue of $698.00 million during the quarter, compared to analysts’ expectations of $679.75 million. During the same quarter last year, the business posted $0.85 EPS. The business’s revenue was down 3.2% on a year-over-year basis.
CTB has been the subject of several research analyst reports. Northcoast Research reiterated a “buy” rating on shares of Cooper Tire & Rubber in a report on Monday, June 25th. Zacks Investment Research raised Cooper Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Longbow Research reissued a “hold” rating on shares of Cooper Tire & Rubber in a research report on Monday, August 6th. Finally, ValuEngine raised Cooper Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.00.
Several large investors have recently made changes to their positions in the company. BancorpSouth Bank raised its position in shares of Cooper Tire & Rubber by 12.0% in the 2nd quarter. BancorpSouth Bank now owns 16,512 shares of the company’s stock worth $434,000 after acquiring an additional 1,768 shares in the last quarter. HGK Asset Management Inc. raised its position in shares of Cooper Tire & Rubber by 19.4% in the 2nd quarter. HGK Asset Management Inc. now owns 15,843 shares of the company’s stock worth $417,000 after acquiring an additional 2,576 shares in the last quarter. Citigroup Inc. increased its position in Cooper Tire & Rubber by 28.8% during the 1st quarter. Citigroup Inc. now owns 12,748 shares of the company’s stock valued at $373,000 after buying an additional 2,849 shares in the last quarter. Rowland & Co. Investment Counsel ADV increased its position in Cooper Tire & Rubber by 32.3% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 12,558 shares of the company’s stock valued at $330,000 after buying an additional 3,065 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in Cooper Tire & Rubber by 12.6% during the 1st quarter. OppenheimerFunds Inc. now owns 27,758 shares of the company’s stock valued at $813,000 after buying an additional 3,105 shares in the last quarter.
NYSE CTB traded up $0.45 on Thursday, hitting $29.70. The company’s stock had a trading volume of 336,300 shares, compared to its average volume of 772,719. Cooper Tire & Rubber has a 52-week low of $22.58 and a 52-week high of $40.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.53 and a current ratio of 2.58. The stock has a market cap of $1.47 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 5.23 and a beta of 0.64.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, August 31st. Cooper Tire & Rubber’s dividend payout ratio is currently 13.55%.
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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