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More than $677 Million in Sales Expected for Cooper Tire & Rubber Co (CTB) this Quarter

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You read it right. Cooper Tire & Rubber Co (NYSE: CTB) is expected by Wall Street brokerages to announce sales of $677.88 million this fiscal quarter, according to Zacks Investment Research.

Estimates by four analysts of its earnings, put Cooper Tire & Rubber’s highest sales at $697.50 million and the lowest at $641.13 million.  Compared to the $720.75 million sales the firm posted in the same quarter last year, this is a negative year over year growth rate of 5.9% by Cooper Tire & Rubber Co.

With full-year sales estimates ranging between $2.78 billion and $2.86 billion, analysts expect Cooper Tire & Rubber Co.to report on average, full-year sales of $2.83 billion for this financial year and sales of $2.93 billion per share for the next financial year, with estimates ranging between $2.88 billion to $2.97 billion. It is expected the firm will release its next quarterly earnings report soon. These sales averages of Cooper Tire & Rubber provided by Zacks are based on a survey of analysts that cover the firm

When it last announced results of its quarterly earnings on Monday, April 30th, 2018, Cooper Tire & Rubber (NYSE:CTB) reported earnings per share of $0.16 for the quarter, a trifle $0.41 short of the prior consensus estimate of $0.57 by analysts.  In the same report, the company had $601.50 million in revenue during the quarter, a trifle less by $39.71 of the consensus estimate by analysts of $641.21 million. In addition, it had a return on equity of 11.73% and a 2.60% net margin. On a year over year basis, that was a 6.5% drop in revenue by Cooper Tire & Rubber Co., despite registering $0.57 earnings per share (EPS) during the same period last year.

Several analysts of equities research have in regard to the stock, lately weighed in. In its Wednesday, 7th March research note, ValuEngine for its part lowered Cooper Tire & Rubber’s shares from a “buy” to a “hold” rating. On their part, JPMorgan Chase & Co in their Tuesday, May 1st research note, lowered their target price on the shares of Cooper Tire & Rubber to $33.00 from an initial $40.00. More than that, it set on the stock, an “overweight” rating. B. Riley meanwhile reduced their target price on Cooper Tire & Rubber Company’s shares to $40.00 from a previous $50.00 but set a “buy” rating on the stock in its Tuesday, May 1st research note.

Earlier on, in its Tuesday, February 20th research note, TheStreet lowered Cooper Tire & Rubber’s shares from a “b” to “c” rating whereas Zacks Investment Research in a Thursday, February 22nd research note raised its shares of Cooper Tire & Rubber from a “hold” to a “buy” rating, and double set a target price on the stock of $37.00.

Overall, regarding Cooper Tire & Rubber Company’s stock, three (3) analysts have assigned it a “sell” rating, four (4) a “hold” rating and five (5) have assigned it a “buy” rating. The company therefore has an average rating of “Hold” against a $41.50 consensus price target.

Meanwhile, recently, several hedge funds, including institutional investors have modified their stock holdings. Crossmark Global Holdings Inc. for its part has during the 4th quarter, lifted its position in Cooper Tire & Rubber by 20.4%. Crossmark Global Holdings Inc. upon acquiring additional 1,629 shares during the same period now owns as many as 9,628 shares of Cooper Tire & Rubber Company’s stock valued at $340,000.

OppenheimerFunds Inc. also lifted its position in Cooper Tire & Rubber Co. by 7.1% during the 4th quarter. And now, after attaining an additional 1,645 shares during the period, owns 24,653 shares of the company’s stock valued at $872,000.

Furthermore, Capital Investment Counsel Inc. lifted by 17.2%, its position in Cooper Tire & Rubber during the same 4th quarter and now owns 16,050 shares of the company’s stock valued at $567,000 a result of acquiring during the same period, additional 2,350 shares.

During the same 4th quarter, UBS Asset Management Americas Inc. also lifted its position in Cooper Tire & Rubber by 5.6% and after further acquiring 2,346 shares during the period, now owns 44,481 shares of the company’s stock valued at $1,572,000.

Citigroup Inc. to cap all these modifications of holdings at Cooper Tire & Rubber lifted its position in by a massive 28.8% during the 1st quarter and as it stands, owns 12,748 shares of the company’s stock valued at $373,000 upon acquiring during the period, the additional 2,849 shares.

Meanwhile Shares of CTB on Tuesday opened at $26.85. The stock, besides having a market cap of $1.36 billion, also has a PE ratio of 8.66, a 3.58 P/E/G ratio and a beta of 0.46. The firm has a 0.25 debt-to-equity ratio, a 1.50 quick ratio and then a 2.59 current ratio. Cooper Tire & Rubber Co. has a 1-year low and 1-year high of $22.58 and $40.78 respectively.

Cooper Tire & Rubber Co also recently declared a quarterly dividend. This will be paid on Friday, June 29th. Meanwhile on Friday, June 1st, Investors of record were given a dividend per share of $0.105. The ex-dividend date was Thursday, May 31st. This development represents a dividend of $0.42 annually and a 1.56% yield. As it stands, the dividend payout ratio (DPR) of Cooper Tire & Rubber’s is at 13.55%.

About Cooper Tire & Rubber

Cooper Tire & Rubber has subsidiaries, and together, designs manufacture and markets replacement tires throughout North and Latin America, as well as Europe and Asia. The Company manufactures and then markets passenger cars, motorcycles, light trucks, and racing tires, including tire retread materials. It also distributes racing tires, motorcycles, and medium-size trucks.

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