Cooper Tire & Rubber Co to Post Q2 2019 Earnings of $0.62 Per Share, B. Riley Forecasts (CTB)

Cooper Tire & Rubber Co (NYSE:CTB) – B. Riley reduced their Q2 2019 earnings per share (EPS) estimates for Cooper Tire & Rubber in a research note issued on Tuesday, October 30th. B. Riley analyst C. Horn now forecasts that the company will post earnings of $0.62 per share for the quarter, down from their prior estimate of $0.64. B. Riley also issued estimates for Cooper Tire & Rubber’s Q3 2019 earnings at $0.81 EPS and FY2019 earnings at $2.77 EPS.

Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings data on Monday, October 29th. The company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.62. The business had revenue of $737.70 million during the quarter, compared to the consensus estimate of $748.54 million. Cooper Tire & Rubber had a return on equity of 8.65% and a net margin of 1.25%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share.

Several other equities research analysts have also recently commented on CTB. Zacks Investment Research upgraded Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a report on Monday, August 6th. ValuEngine raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Wolfe Research assumed coverage on Cooper Tire & Rubber in a report on Tuesday, October 2nd. They issued an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.40.

Shares of CTB opened at $30.89 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.58 and a quick ratio of 1.53. Cooper Tire & Rubber has a 52-week low of $22.58 and a 52-week high of $40.78. The company has a market capitalization of $1.27 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 5.51 and a beta of 0.66.

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

A number of institutional investors have recently made changes to their positions in CTB. Principal Financial Group Inc. raised its stake in shares of Cooper Tire & Rubber by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 215,042 shares of the company’s stock worth $6,301,000 after buying an additional 3,930 shares in the last quarter. UBS Group AG grew its stake in Cooper Tire & Rubber by 38.7% in the first quarter. UBS Group AG now owns 11,827 shares of the company’s stock valued at $347,000 after purchasing an additional 3,300 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in Cooper Tire & Rubber in the first quarter valued at about $334,000. State of Alaska Department of Revenue acquired a new stake in shares of Cooper Tire & Rubber in the second quarter worth about $434,000. Finally, Rowland & Co. Investment Counsel ADV lifted its position in shares of Cooper Tire & Rubber by 32.3% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 12,558 shares of the company’s stock worth $330,000 after buying an additional 3,065 shares during the last quarter.

About Cooper Tire & Rubber

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

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