Cooper Tire & Rubber Co (CTB) Expected to Post Quarterly Sales of $677.88 Million

Equities research analysts expect that Cooper Tire & Rubber Co (NYSE:CTB) will announce $677.88 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cooper Tire & Rubber’s earnings, with the lowest sales estimate coming in at $641.13 million and the highest estimate coming in at $697.50 million. Cooper Tire & Rubber reported sales of $720.75 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Cooper Tire & Rubber will report full-year sales of $2.83 billion for the current financial year, with estimates ranging from $2.78 billion to $2.86 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.93 billion per share, with estimates ranging from $2.88 billion to $2.97 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Cooper Tire & Rubber.

Cooper Tire & Rubber (NYSE:CTB) last released its earnings results on Monday, April 30th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $601.50 million for the quarter, compared to analyst estimates of $641.21 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year.

Several research firms recently commented on CTB. JPMorgan Chase & Co. lowered their target price on Cooper Tire & Rubber from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Thursday, February 22nd. TheStreet cut Cooper Tire & Rubber from a “b” rating to a “c” rating in a research note on Tuesday, February 20th. ValuEngine cut Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, Longbow Research cut 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 equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given 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.

Several large investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its position in shares of Cooper Tire & Rubber by 20.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,628 shares of the company’s stock worth $340,000 after acquiring an additional 1,629 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Cooper Tire & Rubber by 7.1% in the 4th quarter. OppenheimerFunds Inc. now owns 24,653 shares of the company’s stock valued at $872,000 after purchasing an additional 1,645 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Cooper Tire & Rubber by 5.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 44,481 shares of the company’s stock valued at $1,572,000 after purchasing an additional 2,346 shares during the last quarter. Capital Investment Counsel Inc lifted its holdings in shares of Cooper Tire & Rubber by 17.2% in the 4th quarter. Capital Investment Counsel Inc now owns 16,050 shares of the company’s stock valued at $567,000 after purchasing an additional 2,350 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Cooper Tire & Rubber by 28.8% in the 1st quarter. Citigroup Inc. now owns 12,748 shares of the company’s stock valued at $373,000 after purchasing an additional 2,849 shares during the last quarter.

Cooper Tire & Rubber traded up $0.10, hitting $26.90, on Tuesday, according to Marketbeat. 7,887,402 shares of the company were exchanged, compared to its average volume of 631,390. Cooper Tire & Rubber has a twelve month low of $22.58 and a twelve month high of $40.78. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 3.58 and a beta of 0.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.59 and a quick ratio of 1.50.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be given a dividend of $0.105 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.42 annualized dividend and a dividend yield of 1.56%. 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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Earnings History and Estimates for Cooper Tire & Rubber (NYSE:CTB)

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