Cooper Tire & Rubber Company (NYSE:CTB) announced a quarterly dividend on Friday, October 27th, RTT News reports. Stockholders of record on Friday, December 1st will be paid a dividend of 0.105 per share on Friday, December 29th. This represents a $0.42 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 30th.
Cooper Tire & Rubber has decreased its dividend payment by an average of 9.1% annually over the last three years. Cooper Tire & Rubber has a payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cooper Tire & Rubber to earn $3.68 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 11.4%.
Shares of Cooper Tire & Rubber (CTB) traded up $0.75 on Friday, hitting $33.60. The company had a trading volume of 819,000 shares, compared to its average volume of 744,820. The company has a quick ratio of 1.59, a current ratio of 2.67 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1,684.34, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 1.05 and a beta of -0.01. Cooper Tire & Rubber has a one year low of $31.55 and a one year high of $44.50.
Cooper Tire & Rubber (NYSE:CTB) last released its earnings results on Monday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.33. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. The business had revenue of $733.80 million during the quarter, compared to the consensus estimate of $779.02 million. During the same period last year, the business posted $1.04 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. sell-side analysts anticipate that Cooper Tire & Rubber will post 3.26 EPS for the current year.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Monday, July 24th. Jefferies Group LLC set a $40.00 price objective on Cooper Tire & Rubber and gave the company a “hold” rating in a research report on Monday, August 7th. Deutsche Bank AG upped their price objective on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, August 7th. Finally, FBR & Co reiterated a “buy” rating and set a $53.00 target price on shares of Cooper Tire & Rubber in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.00.
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About Cooper Tire & Rubber
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
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