Q2 2019 EPS Estimates for Cooper Tire & Rubber Co Cut by Jefferies Financial Group (NYSE:CTB)

Cooper Tire & Rubber Co (NYSE:CTB) – Jefferies Financial Group reduced their Q2 2019 earnings per share (EPS) estimates for shares of Cooper Tire & Rubber in a research note issued on Monday, August 6th, according to Zacks Investment Research. Jefferies Financial Group analyst B. Jordan now anticipates that the company will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.70.

Other analysts have also issued reports about the company. ValuEngine raised Cooper Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 7th. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a research note on Tuesday, August 21st. Northcoast Research reaffirmed a “buy” rating on shares of Cooper Tire & Rubber in a research note on Monday, June 25th. Finally, Zacks Investment Research raised Cooper Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.00.

Shares of NYSE CTB traded down $0.30 during mid-day trading on Wednesday, reaching $28.85. The company had a trading volume of 903,300 shares, compared to its average volume of 785,418. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.53 and a current ratio of 2.58. Cooper Tire & Rubber has a one year low of $22.58 and a one year high of $40.78. The stock has a market capitalization of $1.49 billion, a P/E ratio of 9.40, a PEG ratio of 5.30 and a beta of 0.66.

Cooper Tire & Rubber (NYSE:CTB) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Cooper Tire & Rubber had a return on equity of 9.24% and a net margin of 1.53%. The company had revenue of $698.00 million for the quarter, compared to analysts’ expectations of $679.75 million. During the same quarter last year, the business earned $0.85 earnings per share. Cooper Tire & Rubber’s revenue was down 3.2% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, August 31st. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 13.55%.

A number of large investors have recently added to or reduced their stakes in the stock. Brand Asset Management Group Inc. acquired a new stake in shares of Cooper Tire & Rubber during the second quarter valued at about $107,000. Bruderman Asset Management LLC acquired a new stake in shares of Cooper Tire & Rubber during the first quarter valued at about $137,000. Trilogy Capital Inc. acquired a new stake in shares of Cooper Tire & Rubber during the first quarter valued at about $160,000. Fiduciary Trust Co. acquired a new stake in shares of Cooper Tire & Rubber during the first quarter valued at about $206,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Cooper Tire & Rubber during the second quarter valued at about $230,000.

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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