Cott Corp (COT) Expected to Post Quarterly Sales of $538.50 Million

Brokerages expect Cott Corp (NYSE:COT) (TSE:BCB) to report $538.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cott’s earnings. The lowest sales estimate is $534.00 million and the highest is $543.00 million. Cott reported sales of $887.40 million in the same quarter last year, which suggests a negative year-over-year growth rate of 39.3%. The business is expected to announce its next earnings report on Thursday, February 22nd.

On average, analysts expect that Cott will report full year sales of $538.50 million for the current fiscal year, with estimates ranging from $2.23 billion to $2.24 billion. For the next year, analysts expect that the firm will report sales of $2.30 billion per share, with estimates ranging from $2.29 billion to $2.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Cott.

Cott (NYSE:COT) (TSE:BCB) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.08). Cott had a negative net margin of 2.86% and a positive return on equity of 0.09%. The business had revenue of $995.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $0.04 earnings per share. Cott’s revenue was up 12.4% compared to the same quarter last year.

A number of brokerages have weighed in on COT. BMO Capital Markets reissued an “outperform” rating on shares of Cott in a report on Tuesday, September 12th. Zacks Investment Research raised shares of Cott from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised shares of Cott from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Credit Suisse Group upped their price objective on shares of Cott from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $20.00 price objective on shares of Cott in a research note on Friday, September 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Cott presently has a consensus rating of “Buy” and a consensus target price of $17.04.

Shares of Cott (NYSE:COT) traded down $0.43 during midday trading on Friday, reaching $17.11. 537,948 shares of the company’s stock were exchanged, compared to its average volume of 1,165,181. Cott has a 52 week low of $10.34 and a 52 week high of $17.77. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.01 and a quick ratio of 0.86.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Tuesday, November 28th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Monday, November 27th. Cott’s dividend payout ratio is presently -34.29%.

In other news, Director Gregory R. Monahan sold 7,500 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $17.10, for a total value of $128,250.00. Following the transaction, the director now owns 102,666 shares in the company, valued at approximately $1,755,588.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Monahan sold 8,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $15.30, for a total value of $130,050.00. Following the completion of the transaction, the director now owns 115,666 shares in the company, valued at approximately $1,769,689.80. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of COT. First Mercantile Trust Co. acquired a new position in shares of Cott in the 2nd quarter valued at about $145,000. Pacad Investment Ltd. acquired a new position in shares of Cott in the 2nd quarter valued at about $181,000. Shell Asset Management Co. increased its holdings in shares of Cott by 78.2% in the 3rd quarter. Shell Asset Management Co. now owns 23,584 shares of the company’s stock valued at $181,000 after purchasing an additional 10,353 shares during the period. Verition Fund Management LLC acquired a new position in shares of Cott in the 2nd quarter valued at about $200,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Cott by 38.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 20,805 shares of the company’s stock valued at $312,000 after purchasing an additional 5,731 shares during the period.

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Cott Company Profile

Cott Corp is a Canada-based company, which along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through five operating segments: Water & Coffee Solutions; Cott North America; Cott United Kingdom (Cott U.K.), Royal Crown International (RCI) and Mexico.

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