Cooper Tire & Rubber Co Rating Increased to Outperform at Zacks (CTB)
Cooper Tire & Rubber Co (NYSE:CTB) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Tuesday. The firm currently has a $36.00 price target on the stock. Zacks‘s price objective indicates a potential upside of 21.38% from the stock’s previous close.
Zacks’ analyst wrote, “We are raising Cooper Tire to Outperform, based on its high-performance products and improving business operations since the termination of the Apollo Tyres merger agreement. The accelerated share repurchase program is also expected to have a positive impact on future earnings per share. The company reported earnings per share of $0.59 in the second quarter of 2014, which lagged the Zacks Consensus Estimate of $0.80. However, earnings improved from $0.55 in the prior-year quarter. Revenues rose 1% year over year to $889 million, beating the Zacks Consensus Estimate of $870 million as well. “
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Cooper Tire & Rubber Co from $36.00 to $37.00 in a research note on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $25.16.
Cooper Tire & Rubber Co (NYSE:CTB) traded up 1.33% during mid-day trading on Tuesday, hitting $30.055. 412,547 shares of the company’s stock traded hands. Cooper Tire & Rubber Co has a one year low of $20.55 and a one year high of $33.26. The stock has a 50-day moving average of $29.69 and a 200-day moving average of $26.75. The company has a market cap of $1.912 billion and a price-to-earnings ratio of 18.51.
Cooper Tire & Rubber Co (NYSE:CTB) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.80 by $0.21. The company had revenue of $889.00 million for the quarter, compared to the consensus estimate of $863.30 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that Cooper Tire & Rubber Co will post $2.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, August 28th.
Cooper Tire & Rubber Company (NYSE:CTB) is a manufacturer and marketer of replacement tires.
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