The Cooper Companies, Inc. (COO) is set to report fourth-quarter earnings after the closing bell on Thursday, December 4, and Wall Street is expecting solid growth year-over-year.
Analysts are forecasting quarterly earnings of $1.11 per share for the Bolingbrook, Illinois-based company, representing a jump from $1.04 per share in the same period last year. On the revenue front, the consensus estimate sits at $1.06 billion, up from $1.02 billion a year earlier.
The company has been active on the capital allocation front. Back on September 17, Cooper Companies' board approved a $1 billion increase to its share repurchase program—a move that typically signals management's confidence in the stock's value and the business outlook.
Shares of Cooper Companies closed Wednesday at $75.98, edging up 0.2% heading into the earnings release.
What the Most Accurate Analysts Are Saying
Ahead of the earnings report, several top-rated analysts have weighed in with updated views on Cooper Companies. Here's a rundown of recent analyst actions from those with the strongest track records:
Wells Fargo analyst Larry Biegelsen downgraded the stock from Overweight to Equal-Weight on November 13, setting a price target of $72. Biegelsen has an accuracy rate of 66%.
Barclays analyst Matt Miksic initiated coverage with an Overweight rating and an $85 price target on October 13. This analyst carries a 68% accuracy rate.
JP Morgan analyst Robbie Marcus maintained a Neutral rating while cutting the price target from $76 to $66 on August 28. Marcus has a 64% accuracy rate.
Baird analyst Jeff Johnson kept an Outperform rating but slashed the price target from $97 to $85 on August 28. Johnson boasts the highest accuracy rate in this group at 75%.
Stifel analyst Jonathan Block maintained a Buy rating and trimmed the price target from $90 to $85, also on August 28. Block has a 73% accuracy rate.
The analyst community appears cautiously optimistic, with most maintaining positive ratings despite adjusting price targets lower in recent months. Thursday's earnings report should provide clarity on whether the company can meet or exceed expectations and potentially shift sentiment.
