For the fourth quarter the tire producer posted earnings of 31 cents a share, beating analysts' expectations of 26 cents a share by 5 cents. The company reported revenue of $861 million for the quarter. Analysts surveyed by Thomson Reuters expected revenue of $774.3 million for the quarter.
Cooper Tire saw a reduced impact from the failed Apollo Tyres merger in the quarter, recording a $9 million hit from the terminated agreement.
The company's North America Tire Operations division reported net sales of $628 million in the quarter, down 23% from the year-ago quarter.
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TheStreet Ratings team rates COOPER TIRE & RUBBER CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate COOPER TIRE & RUBBER CO (CTB) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."