Cooper Tire & Rubber Company (NYSE:CTB) – Investment analysts at KeyCorp upped their FY2018 earnings estimates for Cooper Tire & Rubber in a research note issued to investors on Sunday. KeyCorp analyst B. Hoselton now forecasts that the company will earn $4.45 per share for the year, up from their previous forecast of $4.31.
Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $720.75 million during the quarter, compared to analyst estimates of $775 million. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS.
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A number of other analysts have also weighed in on the company. BidaskClub raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, August 1st. Deutsche Bank AG upped their price objective on Cooper Tire & Rubber from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and set a $40.00 price objective on shares of Cooper Tire & Rubber in a research report on Thursday, July 6th. Finally, Northcoast Research lowered Cooper Tire & Rubber from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.00.
Cooper Tire & Rubber (NYSE:CTB) traded down 1.61% during midday trading on Wednesday, hitting $33.70. The stock had a trading volume of 327,809 shares. The company has a market cap of $1.78 billion, a PE ratio of 8.34 and a beta of -0.02. The firm has a 50-day moving average of $36.67 and a 200-day moving average of $38.73. Cooper Tire & Rubber has a 12-month low of $33.11 and a 12-month high of $44.50.
A number of institutional investors have recently bought and sold shares of the stock. Malaga Cove Capital LLC bought a new position in Cooper Tire & Rubber during the first quarter valued at about $751,000. ProShare Advisors LLC increased its position in Cooper Tire & Rubber by 20.1% in the first quarter. ProShare Advisors LLC now owns 11,117 shares of the company’s stock valued at $493,000 after buying an additional 1,860 shares in the last quarter. Profund Advisors LLC bought a new position in Cooper Tire & Rubber during the first quarter valued at about $481,000. Retirement Systems of Alabama bought a new position in Cooper Tire & Rubber during the first quarter valued at about $3,016,000. Finally, Anderson Hoagland & Co. bought a new position in Cooper Tire & Rubber during the first quarter valued at about $1,742,000. 94.58% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, August 30th. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 11.67%.
About Cooper Tire & Rubber
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
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