Cooper Companies (NASDAQ:COO) Updates FY 2024 Earnings Guidance

Cooper Companies (NASDAQ:COO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.640-3.670 for the period, compared to the consensus earnings per share estimate of 3.570. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion. Cooper Companies also updated its Q4 guidance to $0.98-1.01 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a hold rating on shares of Cooper Companies in a research report on Thursday. Wells Fargo & Company raised their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday. Jefferies Financial Group upgraded Cooper Companies from a hold rating to a buy rating and boosted their price objective for the stock from $107.00 to $115.00 in a report on Tuesday, July 16th. Piper Sandler increased their target price on Cooper Companies from $115.00 to $120.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Robert W. Baird upped their price objective on Cooper Companies from $118.00 to $125.00 and gave the company an outperform rating in a report on Thursday. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $113.16.

Cooper Companies Trading Up 11.0 %

Shares of COO traded up $10.42 during mid-day trading on Thursday, reaching $104.96. 552,738 shares of the company were exchanged, compared to its average volume of 1,104,642. The business has a 50 day simple moving average of $90.97 and a two-hundred day simple moving average of $94.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95. The stock has a market capitalization of $20.90 billion, a PE ratio of 55.61, a PEG ratio of 2.34 and a beta of 0.98. Cooper Companies has a 52 week low of $75.93 and a 52 week high of $105.45.

Cooper Companies (NASDAQ:COO) last released its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. On average, 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.