Cooper Tire & Rubber Co. manufactures and markets tires and related products. Based on sales volume, it is the twelfth largest tire company globally and the fifth largest tire manufacturer in North America.
Cooper Tire will benefit from focus on improving its business operations. The company continues to develop great products with superior design and functionality. Cooper Tire has also been focusing on expansion in Asia and Latin America.
Estimate Trend & Surprise History
Investors should note that the earnings estimate revisions for Cooper Tire have moved north ahead of the earnings release. The Zacks Consensus Estimate has gone up 1% over the last 30 days and currently stands at 69 cents for the first quarter.
Moreover, Cooper Tire has a track record of delivering positive earnings surprises. It has beaten the Zacks Consensus Estimate in each of the trailing four quarters with an average beat of around 16.07%. Investors have been eagerly awaiting Cooper Tire’s latest earnings report to see whether it outperforms in this quarter as well.
Zacks Rank
Cooper Tire currently has a Zacks Rank #2 (Buy), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this Ohio-based tire manufacturer’s earnings announcement below:
Earnings
Cooper Tire delivered earnings of 57 cents per share in the first quarter of 2017 that missed the Zacks Consensus Estimate of 69 cents. Moreover, earnings were lower than $1.05 in the year-ago quarter.
Revenues
Cooper Tire recorded revenues of $643 million, missing the Zacks Consensus Estimate of $687.8 million as well the year ago revenues of $650 million.
Key Stats/Developments to Note
Cooper Tire expects operating margin to be at the high end of the previously announced mid-term target of 8 to 10%. The International Tire Operations segment is expected to improve operating profit this year.
Cooper Tire expects raw material costs to increase modestly in 2017 over 2016. The company expects global unit volumes from each of its segments to increase compared to the industry in second-quarter 2017 and be at par for the full year.
Market Reaction
Cooper Tire’s shares declined 4.3% following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Cooper Tire’s earnings report!
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Cooper Tire (CTB) Q1 Earnings & Revenues Miss Estimates
Cooper Tire & Rubber Co. manufactures and markets tires and related products. Based on sales volume, it is the twelfth largest tire company globally and the fifth largest tire manufacturer in North America.
Cooper Tire will benefit from focus on improving its business operations. The company continues to develop great products with superior design and functionality. Cooper Tire has also been focusing on expansion in Asia and Latin America.
Estimate Trend & Surprise History
Investors should note that the earnings estimate revisions for Cooper Tire have moved north ahead of the earnings release. The Zacks Consensus Estimate has gone up 1% over the last 30 days and currently stands at 69 cents for the first quarter.
Moreover, Cooper Tire has a track record of delivering positive earnings surprises. It has beaten the Zacks Consensus Estimate in each of the trailing four quarters with an average beat of around 16.07%. Investors have been eagerly awaiting Cooper Tire’s latest earnings report to see whether it outperforms in this quarter as well.
Zacks Rank
Cooper Tire currently has a Zacks Rank #2 (Buy), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this Ohio-based tire manufacturer’s earnings announcement below:
Earnings
Cooper Tire delivered earnings of 57 cents per share in the first quarter of 2017 that missed the Zacks Consensus Estimate of 69 cents. Moreover, earnings were lower than $1.05 in the year-ago quarter.
Cooper Tire & Rubber Company Price and EPS Surprise
Cooper Tire & Rubber Company Price and EPS Surprise | Cooper Tire & Rubber Company Quote
Revenues
Cooper Tire recorded revenues of $643 million, missing the Zacks Consensus Estimate of $687.8 million as well the year ago revenues of $650 million.
Key Stats/Developments to Note
Cooper Tire expects operating margin to be at the high end of the previously announced mid-term target of 8 to 10%. The International Tire Operations segment is expected to improve operating profit this year.
Cooper Tire expects raw material costs to increase modestly in 2017 over 2016. The company expects global unit volumes from each of its segments to increase compared to the industry in second-quarter 2017 and be at par for the full year.
Market Reaction
Cooper Tire’s shares declined 4.3% following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Cooper Tire’s earnings report!
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>>