Q3 2017 EPS Estimates for Cooper Tire & Rubber Company (CTB) Reduced by KeyCorp

Cooper Tire & Rubber Company (NYSE:CTB) – KeyCorp decreased their Q3 2017 earnings estimates for shares of Cooper Tire & Rubber in a report issued on Sunday. KeyCorp analyst B. Hoselton now forecasts that the company will earn $1.02 per share for the quarter, down from their prior estimate of $1.05. KeyCorp also issued estimates for Cooper Tire & Rubber’s Q4 2017 earnings at $1.17 EPS.

A number of other brokerages also recently weighed in on CTB. BidaskClub downgraded Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research downgraded Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Deutsche Bank AG upped their target price on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 target price on shares of Cooper Tire & Rubber in a report on Thursday, July 6th. Finally, Standpoint Research upgraded Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Cooper Tire & Rubber presently has a consensus rating of “Hold” and an average target price of $42.00.

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Shares of Cooper Tire & Rubber (NYSE:CTB) opened at 34.25 on Tuesday. Cooper Tire & Rubber has a 12-month low of $33.11 and a 12-month high of $44.50. The company has a 50-day moving average of $36.67 and a 200-day moving average of $38.73. The stock has a market capitalization of $1.81 billion, a P/E ratio of 8.47 and a beta of -0.02.

Cooper Tire & Rubber (NYSE:CTB) last released its earnings results on Friday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Cooper Tire & Rubber had a net margin of 6.71% and a return on equity of 17.67%. The firm had revenue of $720.75 million during the quarter, compared to the consensus estimate of $775 million. During the same period in the previous year, the firm earned $1.27 earnings per share. Cooper Tire & Rubber’s revenue was down 2.6% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.105 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.23%. Cooper Tire & Rubber’s dividend payout ratio is currently 11.67%.

A number of institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Cooper Tire & Rubber by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,083 shares of the company’s stock worth $400,000 after buying an additional 28 shares in the last quarter. Capital Investment Counsel Inc increased its position in Cooper Tire & Rubber by 0.7% in the first quarter. Capital Investment Counsel Inc now owns 7,500 shares of the company’s stock worth $333,000 after buying an additional 50 shares in the last quarter. Horrell Capital Management Inc. increased its position in Cooper Tire & Rubber by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the company’s stock worth $1,209,000 after buying an additional 100 shares in the last quarter. Creative Planning increased its position in Cooper Tire & Rubber by 5.3% in the first quarter. Creative Planning now owns 2,585 shares of the company’s stock worth $115,000 after buying an additional 129 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Cooper Tire & Rubber by 0.4% in the second quarter. Retirement Systems of Alabama now owns 68,238 shares of the company’s stock worth $2,463,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 94.58% of the company’s stock.

Cooper Tire & Rubber Company Profile

Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.

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

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