Brokerages expect that Cott Corp (NYSE:COT) (TSE:BCB) will report sales of $618.22 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Cott’s earnings, with the lowest sales estimate coming in at $614.50 million and the highest estimate coming in at $622.50 million. Cott posted sales of $609.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, November 7th.
According to Zacks, analysts expect that Cott will report full year sales of $2.40 billion for the current year, with estimates ranging from $2.39 billion to $2.41 billion. For the next year, analysts anticipate that the firm will post sales of $2.48 billion, with estimates ranging from $2.46 billion to $2.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cott.
Cott (NYSE:COT) (TSE:BCB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Cott had a negative net margin of 0.19% and a negative return on equity of 0.27%. The firm had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.80 million. During the same period in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis.
A number of analysts recently issued reports on COT shares. Goldman Sachs Group upgraded Cott from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, July 23rd. TD Securities upped their target price on Cott from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Cott in a research note on Friday, August 9th. Finally, Zacks Investment Research upgraded Cott from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.71.
In related news, CEO Thomas Harrington bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $12.49 per share, for a total transaction of $312,250.00. Following the acquisition, the chief executive officer now directly owns 124,920 shares of the company’s stock, valued at approximately $1,560,250.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Rosenfeld bought 80,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $12.38 per share, with a total value of $990,400.00. Following the completion of the acquisition, the director now directly owns 415,478 shares in the company, valued at $5,143,617.64. The disclosure for this purchase can be found here. Corporate insiders own 3.99% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Doyle Wealth Management purchased a new stake in Cott in the 2nd quarter worth approximately $39,000. Cutler Group LP purchased a new stake in Cott in the 2nd quarter worth approximately $73,000. Atria Investments LLC purchased a new stake in Cott in the 2nd quarter worth approximately $122,000. Paloma Partners Management Co purchased a new stake in Cott in the 2nd quarter worth approximately $137,000. Finally, Marshall Wace North America L.P. lifted its holdings in Cott by 17.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 14,178 shares of the company’s stock worth $189,000 after buying an additional 2,132 shares during the period.
Shares of NYSE:COT traded up $0.12 during midday trading on Thursday, reaching $12.81. 426,828 shares of the company traded hands, compared to its average volume of 1,085,025. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.25. Cott has a 12 month low of $11.72 and a 12 month high of $16.26. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 80.06 and a beta of 0.87. The firm’s fifty day moving average price is $12.77 and its two-hundred day moving average price is $13.28.
Cott Corporation, together with its subsidiaries, operates as a route based service company in the United States, the United Kingdom, Canada, and internationally. The company operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. Its product portfolio includes bottled water, coffee, brewed tea, water dispensers, coffee and tea brewers, specialty coffee, liquid coffee or tea concentrate, single cup coffee, cold brewed coffee, iced blend coffee or tea beverages, blended teas, hot tea, sparkling tea, coffee or tea extract solutions, filtration equipment, hot chocolate, soups, malt drinks, creamers/whiteners, cereals, and beverage concentrates, as well as premium spring, sparkling and flavored, and mineral water.
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