$770.01 Million in Sales Expected for Cooper Tire & Rubber Co (CTB) This Quarter
Equities analysts expect Cooper Tire & Rubber Co (NYSE:CTB) to report sales of $770.01 million for the current quarter, according to Zacks. Four analysts have issued estimates for Cooper Tire & Rubber’s earnings, with the highest sales estimate coming in at $829.30 million and the lowest estimate coming in at $739.83 million. Cooper Tire & Rubber posted sales of $783.89 million in the same quarter last year, which indicates a negative year over year growth rate of 1.8%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, February 20th.
According to Zacks, analysts expect that Cooper Tire & Rubber will report full-year sales of $770.01 million for the current fiscal year, with estimates ranging from $2.84 billion to $2.97 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.98 billion per share, with estimates ranging from $2.79 billion to $3.17 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Cooper Tire & Rubber.
A number of research analysts have recently commented on the stock. Northcoast Research raised shares of Cooper Tire & Rubber from a “neutral” rating to a “buy” rating in a report on Wednesday, January 10th. Jefferies Group reissued a “hold” rating and issued a $35.00 target price on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. FBR & Co reissued a “buy” rating and issued a $50.00 target price on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. Zacks Investment Research raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Friday, January 12th. Finally, Longbow Research assumed coverage on shares of Cooper Tire & Rubber in a report on Wednesday, January 31st. They issued a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.88.
Cooper Tire & Rubber (NYSE CTB) traded down $0.85 during mid-day trading on Monday, hitting $35.60. 891,300 shares of the stock were exchanged, compared to its average volume of 773,797. The company has a market capitalization of $1,825.35, a PE ratio of 9.18 and a beta of 0.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.67 and a quick ratio of 1.59. Cooper Tire & Rubber has a 52-week low of $31.55 and a 52-week high of $44.50.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, February 28th. Cooper Tire & Rubber’s dividend payout ratio is currently 10.82%.
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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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