Cooper Companies (NASDAQ:COO) Releases FY 2024 Earnings Guidance

Cooper Companies (NASDAQ:COO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.640-3.670 for the period, compared to the consensus EPS estimate of 3.570. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion. Cooper Companies also updated its Q4 guidance to $0.98-1.01 EPS.

Cooper Companies Stock Performance

Shares of NASDAQ COO traded up $0.19 during trading hours on Wednesday, reaching $94.54. The stock had a trading volume of 1,231,936 shares, compared to its average volume of 1,107,962. The firm has a 50-day moving average of $90.91 and a 200-day moving average of $94.03. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 55.61, a PEG ratio of 2.34 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. Cooper Companies has a fifty-two week low of $75.93 and a fifty-two week high of $104.07.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.05. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. Equities research analysts predict that Cooper Companies will post 3.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on COO shares. Piper Sandler restated an overweight rating and set a $115.00 price target on shares of Cooper Companies in a research note on Wednesday, July 3rd. Robert W. Baird raised their target price on shares of Cooper Companies from $116.00 to $118.00 and gave the stock an outperform rating in a research note on Friday, May 31st. Needham & Company LLC reiterated a hold rating on shares of Cooper Companies in a research note on Friday, August 23rd. Finally, Jefferies Financial Group upgraded shares of Cooper Companies from a hold rating to a buy rating and raised their price objective for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $111.78.

Cooper Companies Company Profile

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.