Cooper Tire & Rubber Co (CTB) Expected to Post Earnings of $0.60 Per Share

Equities research analysts forecast that Cooper Tire & Rubber Co (NYSE:CTB) will post $0.60 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Cooper Tire & Rubber’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.55. Cooper Tire & Rubber posted earnings per share of $0.57 in the same quarter last year, which would suggest a positive year over year growth rate of 5.3%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Cooper Tire & Rubber will report full-year earnings of $3.12 per share for the current year, with EPS estimates ranging from $2.75 to $3.44. For the next year, analysts anticipate that the firm will report earnings of $3.67 per share, with EPS estimates ranging from $2.80 to $4.28. Zacks’ EPS calculations are a mean 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 results on Tuesday, February 20th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.12). The company had revenue of $757.04 million during the quarter, compared to analysts’ expectations of $750.97 million. Cooper Tire & Rubber had a net margin of 3.34% and a return on equity of 13.71%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS.

A number of brokerages have recently issued reports on CTB. Longbow Research downgraded shares of Cooper Tire & Rubber from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a report on Tuesday, March 13th. ValuEngine downgraded shares of Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. TheStreet downgraded shares of Cooper Tire & Rubber from a “b” rating to a “c” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase cut their price target on shares of Cooper Tire & Rubber from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. One equities research 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 company currently has an average rating of “Hold” and an average price target of $43.63.

In other Cooper Tire & Rubber news, Director Robert D. Welding bought 1,500 shares of the company’s stock in a transaction on Friday, March 9th. The stock was purchased at an average cost of $32.30 per share, for a total transaction of $48,450.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $96,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.61% of the company’s stock.

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

Shares of CTB traded up $0.25 during trading hours on Monday, reaching $29.30. The company had a trading volume of 340,591 shares, compared to its average volume of 753,497. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1,475.68, a PE ratio of 9.45 and a beta of 0.43. Cooper Tire & Rubber has a 12-month low of $28.10 and a 12-month high of $44.50.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st were issued a dividend of $0.105 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.42 annualized dividend and a yield of 1.43%. Cooper Tire & Rubber’s dividend payout ratio (DPR) 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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