Equities research analysts expect Cooper Tire & Rubber (NYSE:CTB) to report $0.45 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have provided estimates for Cooper Tire & Rubber’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.99. Cooper Tire & Rubber reported earnings of $0.85 per share during the same quarter last year, which would suggest a negative year over year growth rate of 47.1%. The business is expected to report its next earnings results on Monday, January 1st.
On average, analysts expect that Cooper Tire & Rubber will report full-year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $1.63 to $3.44. For the next financial year, analysts forecast that the firm will post earnings of $3.26 per share, with EPS estimates ranging from $2.44 to $4.28. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Cooper Tire & Rubber.
Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings results on Monday, April 30th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.41). Cooper Tire & Rubber had a return on equity of 11.73% and a net margin of 2.60%. The business had revenue of $601.50 million for the quarter, compared to the consensus estimate of $641.21 million. During the same quarter in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis.
A number of research firms have recently issued reports on CTB. B. Riley cut their target price on shares of Cooper Tire & Rubber from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, May 1st. Zacks Investment Research cut shares of Cooper Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Friday, May 4th. ValuEngine cut shares of Cooper Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. JPMorgan Chase & Co. cut their target price on shares of Cooper Tire & Rubber from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, May 1st. Finally, Longbow Research cut shares of Cooper Tire & Rubber from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research note on Tuesday, March 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.50.
In related news, Director Robert D. Welding acquired 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was purchased at an average price of $32.30 per share, for a total transaction of $48,450.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $96,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.61% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in Cooper Tire & Rubber by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 215,042 shares of the company’s stock worth $6,301,000 after purchasing an additional 3,930 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in Cooper Tire & Rubber in the 1st quarter worth approximately $334,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Cooper Tire & Rubber by 81.5% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 70,584 shares of the company’s stock worth $2,068,000 after purchasing an additional 31,700 shares during the last quarter. Sentinel Trust Co. LBA raised its position in Cooper Tire & Rubber by 11.2% in the 1st quarter. Sentinel Trust Co. LBA now owns 72,725 shares of the company’s stock worth $2,130,000 after purchasing an additional 7,305 shares during the last quarter. Finally, Foundry Partners LLC raised its position in Cooper Tire & Rubber by 6.6% in the 1st quarter. Foundry Partners LLC now owns 325,269 shares of the company’s stock worth $9,530,000 after purchasing an additional 20,130 shares during the last quarter.
Shares of Cooper Tire & Rubber traded down $0.30, reaching $25.40, during trading on Wednesday, Marketbeat reports. The stock had a trading volume of 472,700 shares, compared to its average volume of 809,785. Cooper Tire & Rubber has a 52 week low of $22.58 and a 52 week high of $40.78. The company has a current ratio of 2.59, a quick ratio of 1.50 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.33 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 2.99 and a beta of 0.46.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, May 31st. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 13.55%.
Cooper Tire & Rubber Company Profile
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.
Get a free copy of the Zacks research report on Cooper Tire & Rubber (CTB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cooper Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.