Cooper Tire & Rubber Co (CTB) Shares Down 9.8% on Disappointing Earnings

Stephen R. Mcclellan Sells 6250 Shares of Goodyear Tire & Rubber Co (GT) Stock

Tire unit volumes fell 4 percent to 40 million, including an 8-percent drop in original equipment unit volume, primarily due to lower US auto production in the first quarter, according to Goodyear, noting the comparison with very strong volumes in the USA and China OE market during the first quarter of 2016.

The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.69 by $0.12.

Cooper Tire & Rubber Co.'s raw material costs surged by $50 million in the first quarter, one of several headwinds the company grappled with on its way to reporting significantly lower profits for the year's first three months. First quarter net sales were negatively impacted by $11 million of lower unit volume and $9 million of negative foreign currency impact, partially offset by $13 million of favorable price and mix, primarily due to net price increases related to higher raw material costs. Excluding non-recurring items, adjusted earnings per share came to 74 cents, beating the FactSet consensus of 63 cents.

Revenue for the Akron, Ohio-based company was almost flat at $3.7 billion. About shares traded. Cooper Tire & Rubber Co (NYSE:CTB) has risen 8.42% since September 21, 2016 and is uptrending.

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Investors of this company earned a return of 7.50% on the assets it owns in past twelve month. The ex-dividend date was Tuesday, February 28th.

They expect $0.69 EPS, down 52.17% or $0.36 from last year's $1.05 per share.

Price Target is basically a projection of future price of a company's stock by the expert analysis of investment analysts or investment firms. It has a dividend yield of 1.13%. "Has $994,000 Position in Goodyear Tire & Rubber Co (GT)" was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. The company posted actual EPS for the last quarter of $1.28. That's down from $91 million during the same time in 2016.

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

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In other news, SVP Richard J. Noechel sold 4,721 shares of the business's stock in a transaction that occurred on Wednesday, March 15th. Dimensional Fund Advisors LP now owns 2,598,352 shares of the company's stock valued at $100,946,000 after buying an additional 382,459 shares in the last quarter. (:XXII). Using the following ratings scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell and 5.0 Strong Sell, analysts have an average recommendation of 2.00. Janney Montgomery Scott Ltd Liability Company has invested 0% in Goodyear Tire & Rubber Co (NASDAQ:GT).

Goodyear's shares have decreased 1.3% in pre-market trading so far following the release.

At the moment 6 analysts are watching Cooper Tire & Rubber Company (NASDAQ:CTB), 1 rate it "Buy", 2 "Outperform", 3 "Underperform", 0 "Sell", while 0 "Hold". Investors of record on Thursday, March 2nd were issued a dividend of $0.105 per share. Jefferies Group LLC reaffirmed a "hold" rating and set a $38.00 target price on shares of Goodyear Tire & Rubber Co in a research note on Tuesday, April 4th. The Company specializes in the design, manufacture, marketing and sales of passenger vehicle, light truck, medium truck, motorcycle, and racing tires. During its last trading session, Stock traded with the total exchanged volume of 3.87 million shares. The Company operates through four segments: North America, Latin America, Europe, and Asia. As of December 31, 2016, the Company operated nine manufacturing facilities and 20 distribution centers in 10 countries. Financial Architects Inc's holdings in Goodyear Tire & Rubber Co were worth $125,000 as of its most recent filing with the SEC. Analyst forecasts, earnings estimates and price target projections are issued to help their clients make money through stock investments.

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