We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cooper Tire's (CTB) Q4 Earnings, Revenues Miss Estimates
Read MoreHide Full Article
Cooper Tire & Rubber Co. posted adjusted earnings of 50 cents per share in the fourth quarter of 2017, missing the Zacks Consensus Estimate of 62 cents.
Cooper Tire registered net sales of $757 million, missing the Zacks Consensus Estimate of $770 million in comparison with the year-ago revenues of $784 million.
Operating profit was $47 million in the fourth quarter of 2017, down 55.4% from the year-ago quarter.
Segment Details
Americas Tire Operations registered a 7.1% decrease in net sales to $645 million. Operating profit in this segment declined 47.8% to $61 million while operating margin decreased from 16.8% to 9.4%.
International Tire Operations registered a 30.5% rise in revenues to $162 million. Operating profit came in at $6 million, increasing from $1 million in the year-ago quarter. Operating margin rose to 3.7% from 1.1% in the year-ago quarter.
Financial Position
Cooper Tire had cash and cash equivalents of $371.7 million as of Dec 31, 2017, down from $504.4 million as of Dec 31, 2016. Capital expenditures increased to $54 million in the fourth quarter of 2017 from $49 million in the year-ago quarter.
Share Repurchases
In February 2017, Cooper Tire increased the share repurchase amount by $300 million and extended it til December 2019. During the fourth quarter of 2017, the company spent $20.7 million on repurchasing 576,242 shares at a price of $35.87 per share. Since August 2014 through Dec 31, 2017, Cooper Tire has brought back a total of 14.8 million shares at an average price of $34.42 per share.
Outlook
Cooper Tire expects operating margin for full-year 2018 to be at the low end of 9-11%. For 2018, capital expenditures are still expected between $215 and $235 million. The effective tax rate for the year is expected to be 23-26%.
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Image: Bigstock
Cooper Tire's (CTB) Q4 Earnings, Revenues Miss Estimates
Cooper Tire & Rubber Co. posted adjusted earnings of 50 cents per share in the fourth quarter of 2017, missing the Zacks Consensus Estimate of 62 cents.
Cooper Tire registered net sales of $757 million, missing the Zacks Consensus Estimate of $770 million in comparison with the year-ago revenues of $784 million.
Operating profit was $47 million in the fourth quarter of 2017, down 55.4% from the year-ago quarter.
Segment Details
Americas Tire Operations registered a 7.1% decrease in net sales to $645 million. Operating profit in this segment declined 47.8% to $61 million while operating margin decreased from 16.8% to 9.4%.
International Tire Operations registered a 30.5% rise in revenues to $162 million. Operating profit came in at $6 million, increasing from $1 million in the year-ago quarter. Operating margin rose to 3.7% from 1.1% in the year-ago quarter.
Financial Position
Cooper Tire had cash and cash equivalents of $371.7 million as of Dec 31, 2017, down from $504.4 million as of Dec 31, 2016. Capital expenditures increased to $54 million in the fourth quarter of 2017 from $49 million in the year-ago quarter.
Share Repurchases
In February 2017, Cooper Tire increased the share repurchase amount by $300 million and extended it til December 2019. During the fourth quarter of 2017, the company spent $20.7 million on repurchasing 576,242 shares at a price of $35.87 per share. Since August 2014 through Dec 31, 2017, Cooper Tire has brought back a total of 14.8 million shares at an average price of $34.42 per share.
Outlook
Cooper Tire expects operating margin for full-year 2018 to be at the low end of 9-11%. For 2018, capital expenditures are still expected between $215 and $235 million. The effective tax rate for the year is expected to be 23-26%.
Cooper Tire currently has a Zacks Rank #2 (Buy).
Some better-ranked companies in the auto space are General Motors Company (GM - Free Report) , Daimler AG and Lear Corp. (LEA - Free Report) . While General Motors sports a Zacks Rank #1 (Strong Buy), both Daimler and Lear carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
General Motors has an expected long-term growth rate of 8.4%.
Daimler has an expected long-term growth rate of 5%.
Lear has an expected long-term growth rate of 7.1%.
Cooper Tire & Rubber Company Price, Consensus and EPS Surprise
Cooper Tire & Rubber Company Price, Consensus and EPS Surprise | Cooper Tire & Rubber Company Quote
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>