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.

Cooper Companies Trading Up 0.3 %

NASDAQ:COO opened at $106.00 on Friday. The stock has a market cap of $21.11 billion, a price-to-earnings ratio of 62.19, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. Cooper Companies has a one year low of $75.93 and a one year high of $106.69. 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 business’s 50-day simple moving average is $91.25 and its 200 day simple moving average is $94.12.

Cooper Companies (NASDAQ:COO) last issued its quarterly earnings results on Wednesday, August 28th. The medical device company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. Cooper Companies had a net margin of 9.11% and a return on equity of 8.87%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $997.30 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cooper Companies will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on COO shares. Piper Sandler raised their price target on shares of Cooper Companies from $115.00 to $120.00 and gave the stock an overweight rating in a research report on Thursday. Needham & Company LLC reissued a hold rating on shares of Cooper Companies in a report on Thursday. Robert W. Baird upped their target price on Cooper Companies from $118.00 to $125.00 and gave the company an outperform rating in a report on Thursday. Stifel Nicolaus reiterated a buy rating and set a $115.00 price target (up from $110.00) on shares of Cooper Companies in a research report on Thursday. Finally, Jefferies Financial Group upgraded Cooper Companies from a hold rating to a buy rating and boosted their price objective for the company from $107.00 to $115.00 in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $113.61.

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.