Cooper Tire & Rubber Co (CTB) to Repurchase $300 million in Stock

KeyBanc Capital Markets upgraded Cooper Tire & Rubber Co (NYSE:CTB) on Thursday, April 7 to "Overweight" rating. For trailing twelve months, EPS value for the stock is $4.77. Cooper Tire & Rubber Company has a 52-week low of 29.29 and a 52-week high of 44.50. Following the completion of the transaction, the insider now owns 90,599 shares of the company's stock, valued at approximately $3,193,614.75. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.87 by $0.08.

International Tire Operations reported a 37.5% rise in revenues to $142 million, mainly due to higher unit volume as well as favorable price and mix, partially offset by a negative foreign currency impact. Last year, Cooper reported earning $59 million, or $1.05 per share, on sales of $649.8 million. On average, equities analysts expect that Cooper Tire & Rubber Co will post $3.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, February 28th. Excluding non-recurring items, adjusted earnings per share came to 74 cents, beating the FactSet consensus of 63 cents. Zacks Investment Research downgraded Goodyear Tire & Rubber Co from a "buy" rating to a "hold" rating in a report on Tuesday, January 17th.

The Goodyear Tire & Rubber Company (GT), a part of Consumer Goods sector and belongs to Rubber & Plastics industry; ended its day with loss -1.28% and finalized at the price of $35.45. Goodyear Tire & Rubber Co's payout ratio is now 8.40%. Finally, Standpoint Research downgraded Goodyear Tire & Rubber Co from a "buy" rating to a "hold" rating in a research note on Wednesday, March 1st. Five analysts surveyed by Zacks expected $687.9 million.

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These are 1 Sell Rating, 5 Hold Ratings, 3 Buy Ratings.

Since December 1, 2016, it had 0 buys, and 7 insider sales for $6.88 million activity. If you are viewing this article on another domain, it was illegally stolen and republished in violation of worldwide copyright & trademark legislation. Breton Hill Capital Ltd.'s holdings in Goodyear Tire & Rubber Co were worth $994,000 at the end of the most recent reporting period.

In related news, VP Stephen Zamansky sold 14,041 shares of the firm's stock in a transaction on Tuesday, February 28th. The top target is presently $53 and the lowest target has the stock reaching $40 within the year. Hedge funds and other institutional investors own 91.58% of the company's stock. The FCF Score of Cooper Tire & Rubber Company (NYSE:CTB) is 0.539208. The Company specializes in the design, manufacture, marketing and sales of passenger auto, light truck, medium truck, motorcycle, and racing tires.

As a part of its previously announced $2.1 billion share repurchase program, the company repurchased 0.7 million shares of its common stock for $25 million during the first quarter. GT has P/E (Price to Earnings ttm) value of 7.44, Forward P/E of 7.03, P/C (Price to cash per share) of 8.08 and Price to Free Cash Flow (P/FCF) value of 21.47. Capital expenditures in the first quarter were $45 million compared with $36 million in the same period previous year. Royce & Associates LP now owns 1,860,142 shares of the company's stock worth $72,267,000 after buying an additional 1,134,598 shares in the last quarter. As of December 31, 2016, the Company operated nine manufacturing facilities and 20 distribution centers in 10 countries. Operating profit was negatively impacted by unit volume decline in North America, as well as volatile raw material costs and product pricing environment.

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