Cooper Companies (NASDAQ:COO) Releases Q4 Earnings Guidance

Cooper Companies (NASDAQ:COO) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.98-1.01 for the period, compared to the consensus EPS estimate of $0.96. The company issued revenue guidance of $1.015-1.036 billion, compared to the consensus revenue estimate of $1.01 billion. Cooper Companies also updated its FY 2024 guidance to 3.640-3.670 EPS.

Cooper Companies Stock Performance

NASDAQ COO opened at $105.73 on Friday. The company has a market capitalization of $21.05 billion, a PE ratio of 62.19, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. Cooper Companies has a twelve month low of $75.93 and a twelve month high of $106.58. The company has a current ratio of 1.95, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $91.25 and its 200 day moving average price is $94.12.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings data on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $997.30 million. During the same period in the previous year, the firm earned $0.84 earnings per share. Cooper Companies’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that Cooper Companies will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on COO shares. Robert W. Baird raised their target price on Cooper Companies from $118.00 to $125.00 and gave the company an outperform rating in a research note on Thursday. Stifel Nicolaus reaffirmed a buy rating and issued a $115.00 target price (up from $110.00) on shares of Cooper Companies in a research report on Thursday. Jefferies Financial Group raised shares of Cooper Companies from a hold rating to a buy rating and raised their price target for the stock from $107.00 to $115.00 in a research report on Tuesday, July 16th. Wells Fargo & Company upped their price target on shares of Cooper Companies from $110.00 to $115.00 and gave the company an overweight rating in a report on Thursday. Finally, Needham & Company LLC reissued a hold rating on shares of Cooper Companies in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $113.61.

About Cooper Companies

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.