Cooper Tire & Rubber (CTB) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Cooper Tire & Rubber Co (NYSE:CTB) shares saw unusually-strong trading volume on Monday following a stronger than expected earnings report. Approximately 3,786,477 shares changed hands during trading, an increase of 389% from the previous session’s volume of 774,925 shares.The stock last traded at $30.89 and had previously closed at $25.45.

The company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.62. The company had revenue of $737.70 million for the quarter, compared to analyst estimates of $748.54 million. Cooper Tire & Rubber had a return on equity of 9.24% and a net margin of 1.53%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, November 30th. Cooper Tire & Rubber’s dividend payout ratio (DPR) is currently 13.55%.



A number of equities analysts have weighed in on CTB shares. Zacks Investment Research raised Cooper Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Longbow Research reissued a “hold” rating on shares of Cooper Tire & Rubber in a research note on Monday, August 6th. ValuEngine raised Cooper Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Wolfe Research assumed coverage on Cooper Tire & Rubber in a research note on Tuesday, October 2nd. They set an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Cooper Tire & Rubber presently has an average rating of “Hold” and a consensus target price of $41.00.

Large investors have recently bought and sold shares of the business. Brand Asset Management Group Inc. purchased a new stake in Cooper Tire & Rubber in the second quarter valued at $107,000. Oppenheimer & Co. Inc. purchased a new stake in Cooper Tire & Rubber in the second quarter valued at $230,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Cooper Tire & Rubber in the second quarter valued at $281,000. Brandes Investment Partners LP purchased a new stake in Cooper Tire & Rubber in the second quarter valued at $285,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Cooper Tire & Rubber in the first quarter valued at $334,000.

The company has a quick ratio of 1.53, a current ratio of 2.58 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.27 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 4.54 and a beta of 0.66.

Cooper Tire & Rubber Company Profile (NYSE:CTB)

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.

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