B. Riley Research Analysts Lower Earnings Estimates for Cooper Tire & Rubber Co (NYSE:CTB)

Cooper Tire & Rubber Co (NYSE:CTB) – Equities research analysts at B. Riley dropped their Q2 2020 earnings per share estimates for shares of Cooper Tire & Rubber in a research note issued on Tuesday, July 30th. B. Riley analyst C. Horn now anticipates that the company will post earnings of $0.62 per share for the quarter, down from their prior forecast of $0.75.

Several other equities research analysts have also recently weighed in on the stock. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a research report on Sunday, July 7th. ValuEngine raised shares of Marriott Vacations Worldwide from a “sell” rating to a “hold” rating in a research report on Monday. KeyCorp reissued a “buy” rating and set a $108.00 target price (up previously from $102.00) on shares of Zendesk in a research report on Tuesday. Finally, Zacks Investment Research cut shares of Phoenix New Media from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $34.67.

Shares of CTB opened at $26.75 on Wednesday. The stock has a 50 day simple moving average of $30.71. Cooper Tire & Rubber has a fifty-two week low of $23.27 and a fifty-two week high of $35.36. The stock has a market cap of $1.53 billion, a PE ratio of 12.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.93 and a quick ratio of 1.15.

Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.33). Cooper Tire & Rubber had a return on equity of 9.25% and a net margin of 2.66%. The business had revenue of $679.10 million during the quarter, compared to analysts’ expectations of $718.74 million. During the same period in the previous year, the company posted $0.30 EPS. Cooper Tire & Rubber’s revenue for the quarter was down 2.8% on a year-over-year basis.

A number of large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its position in Cooper Tire & Rubber by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 19,391 shares of the company’s stock valued at $580,000 after acquiring an additional 350 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Cooper Tire & Rubber by 20.3% in the fourth quarter. Advisor Group Inc. now owns 2,153 shares of the company’s stock worth $69,000 after buying an additional 363 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Cooper Tire & Rubber by 3.4% in the first quarter. Mason Street Advisors LLC now owns 16,081 shares of the company’s stock worth $481,000 after buying an additional 531 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Cooper Tire & Rubber by 0.7% in the second quarter. Arizona State Retirement System now owns 77,793 shares of the company’s stock worth $2,454,000 after buying an additional 552 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV raised its holdings in shares of Cooper Tire & Rubber by 3.8% in the first quarter. Rowland & Co. Investment Counsel ADV now owns 16,458 shares of the company’s stock worth $492,000 after buying an additional 600 shares during the last quarter. 98.62% of the stock is owned by institutional investors.

Cooper Tire & Rubber Company Profile

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.

Further Reading: Inflation

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

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