Cooper Tire & Rubber Co (CTB) Expected to Announce Quarterly Sales of $643.08 Million

Wall Street brokerages forecast that Cooper Tire & Rubber Co (NYSE:CTB) will post sales of $643.08 million for the current quarter, Zacks reports. Four analysts have provided estimates for Cooper Tire & Rubber’s earnings, with the lowest sales estimate coming in at $625.04 million and the highest estimate coming in at $655.26 million. Cooper Tire & Rubber reported sales of $643.03 million during the same quarter last year, which indicates a positive year over year growth rate of 0%. The firm 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 sales of $643.08 million for the current financial year, with estimates ranging from $2.83 billion to $2.93 billion. For the next financial year, analysts expect that the firm will report sales of $2.96 billion per share, with estimates ranging from $2.87 billion to $3.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cooper Tire & Rubber.

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Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.12). The firm had revenue of $757.04 million for the quarter, compared to analyst estimates of $750.97 million. Cooper Tire & Rubber had a net margin of 3.34% and a return on equity of 13.71%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 earnings per share.

Several equities research analysts have recently weighed in on CTB shares. Zacks Investment Research raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Friday, January 12th. Longbow Research started coverage on shares of Cooper Tire & Rubber in a research note on Wednesday, January 31st. They issued a “buy” rating and a $50.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $50.00 target price on shares of Cooper Tire & Rubber in a research note on Monday, December 11th. JPMorgan Chase reduced their target price on shares of Cooper Tire & Rubber from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Finally, TheStreet downgraded shares of Cooper Tire & Rubber from a “b” rating to a “c” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.63.

In related news, Director Robert D. Welding purchased 1,500 shares of Cooper Tire & Rubber stock in a transaction that occurred on Friday, March 9th. The shares were bought at an average price of $32.30 per share, with a total value of $48,450.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $96,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.74% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CTB. New York State Common Retirement Fund grew its position in shares of Cooper Tire & Rubber by 3.2% during the third quarter. New York State Common Retirement Fund now owns 58,600 shares of the company’s stock worth $2,192,000 after buying an additional 1,800 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cooper Tire & Rubber by 2.8% during the third quarter. Ameriprise Financial Inc. now owns 562,680 shares of the company’s stock valued at $21,046,000 after purchasing an additional 15,541 shares during the last quarter. American International Group Inc. raised its holdings in shares of Cooper Tire & Rubber by 1.7% during the third quarter. American International Group Inc. now owns 142,389 shares of the company’s stock valued at $5,325,000 after purchasing an additional 2,339 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Cooper Tire & Rubber by 11.5% during the third quarter. Legal & General Group Plc now owns 86,158 shares of the company’s stock valued at $3,222,000 after purchasing an additional 8,870 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Cooper Tire & Rubber by 2.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 282,044 shares of the company’s stock valued at $10,549,000 after purchasing an additional 6,367 shares during the last quarter.

Cooper Tire & Rubber stock traded down $1.10 during mid-day trading on Wednesday, reaching $29.05. 587,180 shares of the company’s stock traded hands, compared to its average volume of 647,708. The company has a market cap of $1,531.56, a price-to-earnings ratio of 9.37 and a beta of 0.43. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.25. Cooper Tire & Rubber has a 12-month low of $28.10 and a 12-month high of $44.50.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, February 28th. Cooper Tire & Rubber’s dividend payout ratio is currently 13.55%.

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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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Earnings History and Estimates for Cooper Tire & Rubber (NYSE:CTB)

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