Cott (NYSE:COT) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Cott (NYSE:COT) (TSE:BCB) released its quarterly earnings results on Thursday. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.03), Briefing.com reports. Cott had a net margin of 0.08% and a return on equity of 0.39%. The business had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.80 million. During the same period in the previous year, the company earned $0.09 EPS. Cott’s revenue for the quarter was up .1% compared to the same quarter last year. Cott updated its FY 2019 guidance to EPS.

Cott stock traded down $0.64 during midday trading on Friday, hitting $12.66. The stock had a trading volume of 1,627,900 shares, compared to its average volume of 1,159,272. The stock has a fifty day moving average of $12.96. The stock has a market capitalization of $1.79 billion, a P/E ratio of 79.13 and a beta of 0.92. Cott has a 52-week low of $12.17 and a 52-week high of $16.37. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 1.24.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 20th. Cott’s dividend payout ratio is 150.00%.

Several equities research analysts have recently commented on COT shares. Royal Bank of Canada set a $20.00 price target on shares of Cott and gave the company an “outperform” rating in a research report on Friday. ValuEngine lowered shares of Cott from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered shares of Cott from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Citigroup set a $17.00 price target on shares of Cott and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, TD Securities upped their price target on shares of Cott from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Cott presently has a consensus rating of “Buy” and an average price target of $18.71.

A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its holdings in Cott by 62.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,126,615 shares of the company’s stock worth $81,791,000 after acquiring an additional 2,361,963 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cott by 19.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,090,844 shares of the company’s stock worth $53,753,000 after acquiring an additional 654,667 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Cott by 11.2% in the 2nd quarter. Wells Fargo & Company MN now owns 2,805,848 shares of the company’s stock worth $37,458,000 after acquiring an additional 283,061 shares in the last quarter. Norges Bank purchased a new stake in Cott in the 4th quarter worth approximately $31,133,000. Finally, Cidel Asset Management Inc. increased its holdings in Cott by 41.2% in the 1st quarter. Cidel Asset Management Inc. now owns 1,849,620 shares of the company’s stock worth $26,998,000 after acquiring an additional 540,118 shares in the last quarter.

Cott Company Profile

Cott Corporation, together with its subsidiaries, operates as a route based service company in the United States, the United Kingdom, Canada, and internationally. The company operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. Its product portfolio includes bottled water, coffee, brewed tea, water dispensers, coffee and tea brewers, specialty coffee, liquid coffee or tea concentrate, single cup coffee, cold brewed coffee, iced blend coffee or tea beverages, blended teas, hot tea, sparkling tea, coffee or tea extract solutions, filtration equipment, hot chocolate, soups, malt drinks, creamers/whiteners, cereals, and beverage concentrates, as well as premium spring, sparkling and flavored, and mineral water.

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Earnings History for Cott (NYSE:COT)

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