Wall Street analysts expect that Cooper Tire & Rubber Co (NYSE:CTB) will post sales of $741.68 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Cooper Tire & Rubber’s earnings, with estimates ranging from $713.80 million to $760.71 million. Cooper Tire & Rubber reported sales of $770.49 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The business is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Cooper Tire & Rubber will report full year sales of $2.74 billion for the current financial year, with estimates ranging from $2.72 billion to $2.76 billion. For the next financial year, analysts expect that the company will report sales of $2.82 billion, with estimates ranging from $2.77 billion to $2.87 billion. Zacks’ sales 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 results on Monday, October 28th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.09. The company had revenue of $704.10 million during the quarter, compared to the consensus estimate of $734.96 million. Cooper Tire & Rubber had a net margin of 1.61% and a return on equity of 6.59%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the stock. C M Bidwell & Associates Ltd. purchased a new stake in Cooper Tire & Rubber during the second quarter valued at $30,000. Tower Research Capital LLC TRC boosted its position in Cooper Tire & Rubber by 149.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,124 shares of the company’s stock worth $55,000 after purchasing an additional 1,274 shares during the last quarter. Cerebellum GP LLC purchased a new position in Cooper Tire & Rubber in the third quarter worth about $72,000. Bridger Capital Management LLC purchased a new position in Cooper Tire & Rubber in the third quarter worth about $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cooper Tire & Rubber by 22.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,429 shares of the company’s stock valued at $90,000 after purchasing an additional 640 shares during the period. 96.26% of the stock is owned by institutional investors.
CTB traded down $0.72 during trading on Thursday, hitting $27.94. 218,891 shares of the company’s stock traded hands, compared to its average volume of 379,138. The company’s 50 day simple moving average is $28.48 and its two-hundred day simple moving average is $27.75. The company has a current ratio of 1.80, a quick ratio of 1.06 and a debt-to-equity ratio of 0.14. Cooper Tire & Rubber has a 12-month low of $22.46 and a 12-month high of $35.29. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.82 and a beta of 0.66.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, November 29th. Cooper Tire & Rubber’s dividend payout ratio is currently 19.27%.
Cooper Tire & Rubber Company Profile
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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