Cooper Tire & Rubber Company (NYSE:CTB) – Research analysts at Jefferies Group increased their FY2017 earnings per share estimates for shares of Cooper Tire & Rubber in a research note issued on Monday. Jefferies Group analyst B. Jordan now expects that the company will post earnings per share of $3.29 for the year, up from their prior estimate of $3.08. Jefferies Group currently has a “Hold” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for Cooper Tire & Rubber’s Q4 2017 earnings at $0.98 EPS, Q1 2018 earnings at $0.84 EPS, Q2 2018 earnings at $0.96 EPS, Q4 2018 earnings at $1.14 EPS and FY2018 earnings at $3.96 EPS.
Cooper Tire & Rubber (NYSE:CTB) last posted its earnings results on Friday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The firm had revenue of $720.75 million during the quarter, compared to analysts’ expectations of $775 million. During the same period in the previous year, the firm earned $1.27 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis.
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A number of other analysts have also commented on the company. Deutsche Bank AG boosted their target price on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday. BidaskClub lowered Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, August 1st. Standpoint Research raised Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research report on Tuesday, June 20th. 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 given a hold rating and four have assigned a buy rating to the stock. Cooper Tire & Rubber presently has an average rating of “Hold” and a consensus target price of $42.00.
Cooper Tire & Rubber (NYSE CTB) opened at 33.95 on Thursday. Cooper Tire & Rubber has a 1-year low of $33.11 and a 1-year high of $44.50. The firm has a market capitalization of $1.80 billion, a PE ratio of 8.40 and a beta of -0.02. The firm has a 50-day moving average price of $36.55 and a 200-day moving average price of $38.67.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, August 30th. Cooper Tire & Rubber’s payout ratio is 11.67%.
A number of hedge funds have recently modified their holdings of CTB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Cooper Tire & Rubber by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,725 shares of the company’s stock worth $279,000 after buying an additional 31 shares during the period. Wilen Investment Management CORP. increased its position in Cooper Tire & Rubber by 9.4% in the second quarter. Wilen Investment Management CORP. now owns 25,600 shares of the company’s stock worth $915,000 after buying an additional 2,200 shares during the period. Cipher Capital LP increased its position in Cooper Tire & Rubber by 679.0% in the second quarter. Cipher Capital LP now owns 45,647 shares of the company’s stock worth $1,648,000 after buying an additional 39,787 shares during the period. Principal Financial Group Inc. increased its position in Cooper Tire & Rubber by 6.1% in the second quarter. Principal Financial Group Inc. now owns 1,042,210 shares of the company’s stock worth $37,623,000 after buying an additional 60,268 shares during the period. Finally, IndexIQ Advisors LLC bought a new position in Cooper Tire & Rubber during the second quarter worth about $386,000. 94.58% of the stock is owned by institutional investors and hedge funds.
Cooper Tire & Rubber Company Profile
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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