KeyCorp Equities Analysts Increase Earnings Estimates for Cooper Tire & Rubber Co (NYSE:CTB)

Cooper Tire & Rubber Co (NYSE:CTB) – Equities researchers at KeyCorp raised their Q2 2020 EPS estimates for Cooper Tire & Rubber in a research note issued to investors on Sunday, June 28th. KeyCorp analyst J. Picariello now expects that the company will earn ($0.66) per share for the quarter, up from their previous estimate of ($0.71). KeyCorp has a “Overweight” rating and a $32.00 price objective on the stock. KeyCorp also issued estimates for Cooper Tire & Rubber’s FY2020 earnings at $0.27 EPS.

CTB has been the topic of several other reports. Zacks Investment Research cut shares of Cooper Tire & Rubber from a “hold” rating to a “strong sell” rating and set a $26.00 price objective on the stock. in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of Cooper Tire & Rubber from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, June 19th. TheStreet lowered shares of Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a research note on Thursday, March 5th. Finally, Cfra dropped their price target on shares of Cooper Tire & Rubber from $30.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.60.

Cooper Tire & Rubber stock opened at $27.57 on Wednesday. Cooper Tire & Rubber has a twelve month low of $13.82 and a twelve month high of $32.14. The stock has a 50 day moving average of $25.29 and a two-hundred day moving average of $24.56. The company has a current ratio of 2.05, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 16.03 and a beta of 1.31.

Cooper Tire & Rubber (NYSE:CTB) last announced its earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). The firm had revenue of $532.00 million during the quarter, compared to analyst estimates of $544.67 million. Cooper Tire & Rubber had a net margin of 2.92% and a return on equity of 6.85%. The firm’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mason Street Advisors LLC grew its position in Cooper Tire & Rubber by 2.6% during the fourth quarter. Mason Street Advisors LLC now owns 17,479 shares of the company’s stock worth $503,000 after buying an additional 442 shares during the period. PNC Financial Services Group Inc. grew its position in Cooper Tire & Rubber by 3.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,268 shares of the company’s stock worth $410,000 after buying an additional 503 shares during the period. Amalgamated Bank grew its position in Cooper Tire & Rubber by 11.5% during the fourth quarter. Amalgamated Bank now owns 8,688 shares of the company’s stock worth $250,000 after buying an additional 896 shares during the period. Ensign Peak Advisors Inc grew its position in Cooper Tire & Rubber by 2.3% during the first quarter. Ensign Peak Advisors Inc now owns 44,620 shares of the company’s stock worth $727,000 after buying an additional 1,000 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in Cooper Tire & Rubber by 19.1% during the first quarter. Public Employees Retirement Association of Colorado now owns 6,920 shares of the company’s stock worth $113,000 after buying an additional 1,111 shares during the period. Institutional investors own 97.05% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 1st were given a dividend of $0.105 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.42 annualized dividend and a yield of 1.52%. Cooper Tire & Rubber’s payout ratio is currently 21.99%.

About Cooper Tire & Rubber

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells 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, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.

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

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