Cooper Tire & Rubber Co (NYSE:CTB) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of 0.105 per share on Friday, September 27th. This represents a $0.42 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, August 30th.
Cooper Tire & Rubber has a dividend payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cooper Tire & Rubber to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 15.8%.
NYSE CTB opened at $26.88 on Friday. Cooper Tire & Rubber has a 52 week low of $23.27 and a 52 week high of $35.36. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 12.33 and a beta of 0.68. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.15. The company’s 50-day simple moving average is $30.58.
A number of brokerages recently issued reports on CTB. ValuEngine downgraded Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, July 23rd. Longbow Research restated a “hold” rating on shares of Cooper Tire & Rubber in a research note on Sunday, July 7th. Finally, KeyCorp cut their price target on Cooper Tire & Rubber from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.67.
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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