Cooper Companies (NYSE:COO) Updates FY 2019 Earnings Guidance

Cooper Companies (NYSE:COO) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $12.27-12.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $12.28. The company issued revenue guidance of $2.635-2.655 billion, compared to the consensus revenue estimate of $2.65 billion.Cooper Companies also updated its FY19 guidance to $12.27-12.35 EPS.

Shares of COO traded down $18.84 during mid-day trading on Friday, hitting $309.75. The company’s stock had a trading volume of 768,763 shares, compared to its average volume of 266,657. The firm has a 50-day moving average price of $332.30 and a 200 day moving average price of $307.65. The stock has a market capitalization of $15.88 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.68. Cooper Companies has a fifty-two week low of $228.65 and a fifty-two week high of $344.32.

Cooper Companies (NYSE:COO) last announced its quarterly earnings data on Thursday, August 29th. The medical device company reported $3.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.16 by $0.07. The company had revenue of $679.40 million for the quarter, compared to analysts’ expectations of $687.60 million. Cooper Companies had a net margin of 16.46% and a return on equity of 17.25%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 EPS. As a group, equities analysts anticipate that Cooper Companies will post 12.28 EPS for the current fiscal year.

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, August 7th. Stockholders of record on Tuesday, July 23rd were paid a $0.03 dividend. The ex-dividend date was Monday, July 22nd. Cooper Companies’s dividend payout ratio is currently 0.52%.

COO has been the topic of several recent research reports. Raymond James reaffirmed a buy rating on shares of Cooper Companies in a research note on Monday, August 26th. Northcoast Research reissued a buy rating and issued a $340.00 target price (up from $331.00) on shares of Cooper Companies in a research report on Monday, June 3rd. KeyCorp lifted their target price on shares of Cooper Companies from $314.00 to $351.00 and gave the stock an overweight rating in a research report on Thursday, August 22nd. Wells Fargo & Co lifted their target price on shares of Cooper Companies from $356.00 to $365.00 and gave the stock an outperform rating in a research report on Thursday, August 8th. Finally, Piper Jaffray Companies lifted their target price on shares of Cooper Companies from $330.00 to $360.00 and gave the stock an overweight rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $326.27.

In related news, Director Jody S. Lindell sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $328.29, for a total transaction of $984,870.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary S. Petersmeyer sold 355 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $323.92, for a total transaction of $114,991.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,678 shares of company stock worth $25,063,536. 1.70% of the stock is currently owned by insiders.

About Cooper Companies

The Cooper Companies, Inc operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia.

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Earnings History and Estimates for Cooper Companies (NYSE:COO)

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