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 is benefiting from its high-performance products, share repurchases and improving business operations since the termination of the Apollo Tyres merger agreement. 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. However, the company operates in a very competitive industry.
Estimate Trend & Surprise History
The Zacks Consensus Estimate for Cooper Tire for the third quarter has fallen to $1.01 per share from $1.03 over the past month.
Moreover, Cooper Tire has a track record of delivering positive earnings surprises. It has beaten the Zacks Consensus Estimate in each of the trailing 4 quarters with an average beat of around 22.13%. Investors have been eagerly awaiting Cooper Tire’s latest earnings report to see whether it outperforms in this quarter.
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 Top Estimates
Cooper Tire delivered earnings of $1.04 per share in the third quarter of 2016 that topped the Zacks Consensus Estimate of $1.01. Moreover, earnings were higher than 93 cents in the year-ago quarter.
Revenues Miss Estimates
Cooper Tire recorded revenues of $751 million, missing the Zacks Consensus Estimate of $791 million as well as lower than the year ago revenues of $782 million.
Key Stats/Developments to Note
Cooper Tire reaffirmed its operating margin guidance, excluding the impact of acquisitions and non-cash pension settlement charges, to increase marginally from 11.9% recorded in 2015. The International Tire Operations segment is expected to improve significantly and generate profits this year.
Cooper Tire expects raw material costs to increase marginally in the fourth quarter of 2016. The company expects global unit volumes to increase in the fourth quarter.
Market Reaction
Cooper Tire’s shares have remained inactive so far 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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Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
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Cooper Tire (CTB) Q3 Earnings Top Estimates, Revenues Lag
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 is benefiting from its high-performance products, share repurchases and improving business operations since the termination of the Apollo Tyres merger agreement. 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. However, the company operates in a very competitive industry.
Estimate Trend & Surprise History
The Zacks Consensus Estimate for Cooper Tire for the third quarter has fallen to $1.01 per share from $1.03 over the past month.
Moreover, Cooper Tire has a track record of delivering positive earnings surprises. It has beaten the Zacks Consensus Estimate in each of the trailing 4 quarters with an average beat of around 22.13%. Investors have been eagerly awaiting Cooper Tire’s latest earnings report to see whether it outperforms in this quarter.
COOPER TIRE Price and EPS Surprise
COOPER TIRE Price and EPS Surprise | COOPER TIRE Quote
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 Top Estimates
Cooper Tire delivered earnings of $1.04 per share in the third quarter of 2016 that topped the Zacks Consensus Estimate of $1.01. Moreover, earnings were higher than 93 cents in the year-ago quarter.
Revenues Miss Estimates
Cooper Tire recorded revenues of $751 million, missing the Zacks Consensus Estimate of $791 million as well as lower than the year ago revenues of $782 million.
Key Stats/Developments to Note
Cooper Tire reaffirmed its operating margin guidance, excluding the impact of acquisitions and non-cash pension settlement charges, to increase marginally from 11.9% recorded in 2015. The International Tire Operations segment is expected to improve significantly and generate profits this year.
Cooper Tire expects raw material costs to increase marginally in the fourth quarter of 2016. The company expects global unit volumes to increase in the fourth quarter.
Market Reaction
Cooper Tire’s shares have remained inactive so far 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!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>