Cooper Companies Inc to Issue Semi-annual Dividend of $0.03 (NYSE:COO)

Cooper Companies Inc (NYSE:COO) declared a semi-annual dividend on Wednesday, January 8th, Wall Street Journal reports. Stockholders of record on Thursday, January 23rd will be given a dividend of 0.03 per share by the medical device company on Monday, February 10th. The ex-dividend date is Wednesday, January 22nd.

Cooper Companies has a dividend payout ratio of 0.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cooper Companies to earn $14.30 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 0.4%.

NYSE COO opened at $355.31 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $17.43 billion, a P/E ratio of 38.04, a P/E/G ratio of 2.58 and a beta of 0.91. Cooper Companies has a 12-month low of $263.76 and a 12-month high of $355.41. The firm has a 50-day moving average price of $323.55 and a two-hundred day moving average price of $314.41.

Cooper Companies (NYSE:COO) last posted its quarterly earnings data on Thursday, December 5th. The medical device company reported $3.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.27 by $0.03. The firm had revenue of $691.60 million during the quarter, compared to the consensus estimate of $683.83 million. Cooper Companies had a net margin of 17.59% and a return on equity of 17.38%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.87 EPS. Equities analysts expect that Cooper Companies will post 12.8 EPS for the current year.

In other news, Director Jody S. Lindell sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $321.01, for a total transaction of $1,123,535.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Kalkstein sold 9,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $320.35, for a total transaction of $3,043,325.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

A number of analysts have issued reports on COO shares. Jefferies Financial Group cut their price objective on shares of Cooper Companies from $358.00 to $330.00 and set an “in-line” rating for the company in a report on Wednesday, December 4th. Robert W. Baird reissued a “buy” rating and issued a $345.00 price objective on shares of Cooper Companies in a report on Friday, December 6th. KeyCorp boosted their price objective on shares of Cooper Companies from $348.00 to $351.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $344.00 price objective on shares of Cooper Companies in a report on Friday, December 6th. Finally, Zacks Investment Research raised shares of Cooper Companies from a “sell” rating to a “hold” rating and set a $325.00 price objective for the company in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $341.80.

Cooper Companies Company Profile

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

See Also: Why is the ex-dividend date different from the record date?

Dividend History for Cooper Companies (NYSE:COO)

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