Cooper Tire & Rubber Company Forecasted to Post Q3 2017 Earnings of $0.90 Per Share (CTB)

Cooper Tire & Rubber Company (NYSE:CTB) – Equities research analysts at KeyCorp lowered their Q3 2017 earnings per share (EPS) estimates for Cooper Tire & Rubber in a research note issued to investors on Sunday. KeyCorp analyst B. Hoselton now anticipates that the company will post earnings of $0.90 per share for the quarter, down from their prior forecast of $1.02. KeyCorp also issued estimates for Cooper Tire & Rubber’s FY2017 earnings at $3.41 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, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $720.75 million for the quarter, compared to the consensus estimate of $775.00 million. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 earnings per share.

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A number of other equities research analysts also recently issued reports on CTB. Zacks Investment Research downgraded shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Group LLC set a $40.00 price objective on shares of Cooper Tire & Rubber and gave the company a “hold” rating in a research report on Monday, August 7th. BidaskClub downgraded shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Deutsche Bank AG boosted their price objective on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, August 7th. Finally, Standpoint Research raised shares of Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $42.00.

Shares of Cooper Tire & Rubber (NYSE CTB) opened at 36.50 on Tuesday. Cooper Tire & Rubber has a 52-week low of $32.78 and a 52-week high of $44.50. The stock has a market cap of $1.90 billion and a P/E ratio of 10.10. The firm’s 50 day moving average price is $35.11 and its 200 day moving average price is $37.27.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new position in shares of Cooper Tire & Rubber during the 1st quarter valued at $110,000. Riverhead Capital Management LLC lifted its stake in shares of Cooper Tire & Rubber by 75.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock valued at $145,000 after buying an additional 1,729 shares in the last quarter. LS Investment Advisors LLC lifted its stake in shares of Cooper Tire & Rubber by 17.0% during the 2nd quarter. LS Investment Advisors LLC now owns 4,311 shares of the company’s stock valued at $156,000 after buying an additional 627 shares in the last quarter. Flinton Capital Management LLC lifted its stake in shares of Cooper Tire & Rubber by 76.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock valued at $161,000 after buying an additional 1,932 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of Cooper Tire & Rubber by 6.8% during the 2nd quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock valued at $172,000 after buying an additional 304 shares in the last quarter.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, August 30th. Cooper Tire & Rubber’s dividend payout ratio (DPR) is 11.67%.

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.

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

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