Cooper Companies (NASDAQ:COO) Updates Q4 Earnings Guidance

Cooper Companies (NASDAQ:COO) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.98-1.01 for the period, compared to the consensus earnings per share estimate of $0.96. The company issued revenue guidance of $1.015-1.036 billion, compared to the consensus revenue estimate of $1.01 billion.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COO. Needham & Company LLC reissued a hold rating on shares of Cooper Companies in a research report on Friday, August 23rd. Piper Sandler reissued an overweight rating and issued a $115.00 price objective on shares of Cooper Companies in a research report on Wednesday, July 3rd. Robert W. Baird raised their price objective on Cooper Companies from $116.00 to $118.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Finally, Jefferies Financial Group upgraded Cooper Companies from a hold rating to a buy rating and raised their target price for the stock from $107.00 to $115.00 in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $111.78.

Cooper Companies Price Performance

Shares of Cooper Companies stock traded up $0.19 on Wednesday, hitting $94.54. 1,223,476 shares of the company were exchanged, compared to its average volume of 1,107,916. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 55.50, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The company has a quick ratio of 1.14, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $90.91 and a 200 day moving average price of $94.03. Cooper Companies has a 1-year low of $75.93 and a 1-year high of $104.07.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Thursday, May 30th. The medical device company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $942.60 million for the quarter, compared to analyst estimates of $948.07 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. As a group, sell-side analysts predict that Cooper Companies will post 3.57 earnings per share for the current fiscal year.

About Cooper Companies

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.