Analysts Anticipate Cooper Tire & Rubber Co (NYSE:CTB) to Announce $0.51 EPS

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Brokerages expect that Cooper Tire & Rubber Co (NYSE:CTB) will report earnings of $0.51 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Cooper Tire & Rubber’s earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.48. Cooper Tire & Rubber posted earnings per share of $0.30 in the same quarter last year, which suggests a positive year-over-year growth rate of 70%. The company is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Cooper Tire & Rubber will report full year earnings of $2.43 per share for the current year, with EPS estimates ranging from $2.30 to $2.55. For the next year, analysts expect that the firm will report earnings of $3.36 per share, with EPS estimates ranging from $3.10 to $3.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cooper Tire & Rubber.

Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.06). Cooper Tire & Rubber had a net margin of 2.66% and a return on equity of 9.25%. The business had revenue of $619.20 million during the quarter, compared to analysts’ expectations of $608.14 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Cooper Tire & Rubber’s revenue was up 2.9% on a year-over-year basis.

Several equities analysts have recently commented on the company. Zacks Investment Research downgraded Cooper Tire & Rubber from a “hold” rating to a “sell” rating and set a $25.00 price objective on the stock. in a research report on Tuesday, May 28th. TheStreet downgraded Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Finally, KeyCorp assumed coverage on Cooper Tire & Rubber in a research report on Wednesday, May 22nd. They issued an “overweight” rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.00.

Several hedge funds have recently modified their holdings of CTB. Acadian Asset Management LLC bought a new stake in shares of Cooper Tire & Rubber in the fourth quarter worth about $39,000. Captrust Financial Advisors bought a new stake in shares of Cooper Tire & Rubber in the fourth quarter worth about $40,000. Quantamental Technologies LLC bought a new stake in shares of Cooper Tire & Rubber in the first quarter worth about $42,000. KBC Group NV increased its holdings in shares of Cooper Tire & Rubber by 98.7% in the fourth quarter. KBC Group NV now owns 1,685 shares of the company’s stock worth $54,000 after purchasing an additional 837 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Cooper Tire & Rubber by 20.3% during the fourth quarter. Advisor Group Inc. now owns 2,153 shares of the company’s stock worth $69,000 after acquiring an additional 363 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cooper Tire & Rubber stock traded up $0.36 during trading hours on Wednesday, hitting $31.04. The company’s stock had a trading volume of 8,599 shares, compared to its average volume of 296,851. The stock has a 50 day moving average price of $29.56. Cooper Tire & Rubber has a 12-month low of $23.27 and a 12-month high of $35.36. The firm has a market cap of $1.55 billion, a P/E ratio of 14.22 and a beta of 0.60. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.10.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be given a $0.105 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.42 annualized dividend and a dividend yield of 1.35%. Cooper Tire & Rubber’s payout ratio is 19.27%.

About Cooper Tire & Rubber

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells 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, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.

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