Brokerages Anticipate Cooper Tire & Rubber Co (CTB) Will Announce Quarterly Sales of $770.01 Million

Wall Street brokerages expect that Cooper Tire & Rubber Co (NYSE:CTB) will post $770.01 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Cooper Tire & Rubber’s earnings. The lowest sales estimate is $739.83 million and the highest is $829.30 million. Cooper Tire & Rubber posted sales of $783.89 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.8%. The company is expected to issue its next earnings report before the market opens on Tuesday, February 20th.

According to Zacks, analysts expect that Cooper Tire & Rubber will report full-year sales of $770.01 million for the current fiscal year, with estimates ranging from $2.84 billion to $2.97 billion. For the next year, analysts anticipate that the company will post sales of $2.98 billion per share, with estimates ranging from $2.79 billion to $3.17 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Cooper Tire & Rubber.

A number of equities analysts recently weighed in on CTB shares. FBR & Co reaffirmed a “buy” rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a research report on Tuesday, October 31st. Longbow Research started coverage on shares of Cooper Tire & Rubber in a research report on Wednesday, January 31st. They set a “buy” rating and a $50.00 price objective for the company. Zacks Investment Research raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, January 12th. Northcoast Research raised shares of Cooper Tire & Rubber from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 10th. Finally, B. Riley reaffirmed a “buy” rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $45.88.

Hedge funds have recently modified their holdings of the business. First Trust Advisors LP boosted its position in Cooper Tire & Rubber by 20.1% in the 3rd quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock valued at $2,111,000 after buying an additional 9,465 shares during the period. American Century Companies Inc. boosted its position in Cooper Tire & Rubber by 29.5% in the 3rd quarter. American Century Companies Inc. now owns 317,017 shares of the company’s stock valued at $11,856,000 after buying an additional 72,195 shares during the period. Vanguard Group Inc. boosted its position in Cooper Tire & Rubber by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,350,677 shares of the company’s stock valued at $157,060,000 after buying an additional 20,738 shares during the period. Russell Investments Group Ltd. boosted its position in Cooper Tire & Rubber by 1,109.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 522,894 shares of the company’s stock valued at $19,556,000 after buying an additional 479,671 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Cooper Tire & Rubber by 2.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 282,044 shares of the company’s stock valued at $10,549,000 after buying an additional 6,367 shares during the period.

Cooper Tire & Rubber (CTB) opened at $36.00 on Monday. The company has a current ratio of 2.67, a quick ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1,845.86, a P/E ratio of 9.28 and a beta of 0.17. Cooper Tire & Rubber has a 1 year low of $31.55 and a 1 year high of $44.50.

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About Cooper Tire & Rubber

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.

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