U.S. markets open in 2 hours 31 minutes
  • S&P Futures

    4,161.50
    -3.25 (-0.08%)
     
  • Dow Futures

    34,013.00
    -3.00 (-0.01%)
     
  • Nasdaq Futures

    13,905.25
    -14.00 (-0.10%)
     
  • Russell 2000 Futures

    2,231.90
    -6.50 (-0.29%)
     
  • Crude Oil

    60.92
    -0.43 (-0.70%)
     
  • Gold

    1,786.80
    -6.30 (-0.35%)
     
  • Silver

    26.42
    -0.15 (-0.55%)
     
  • EUR/USD

    1.2054
    +0.0015 (+0.12%)
     
  • 10-Yr Bond

    1.5640
    0.0000 (0.00%)
     
  • Vix

    17.22
    -1.46 (-7.82%)
     
  • GBP/USD

    1.3902
    -0.0030 (-0.22%)
     
  • USD/JPY

    108.0280
    -0.0150 (-0.01%)
     
  • BTC-USD

    53,979.65
    -1,728.33 (-3.10%)
     
  • CMC Crypto 200

    1,253.32
    -9.64 (-0.76%)
     
  • FTSE 100

    6,898.41
    +3.12 (+0.05%)
     
  • Nikkei 225

    29,188.17
    +679.62 (+2.38%)
     

Cooper’s 1Q Results Beat The Street Consensus; Street Says Buy

  • Oops!
    Something went wrong.
    Please try again later.
support@smarteranalyst.com (Ben Mahaney)
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

Cooper Cos. reported better-than-expected fiscal 1Q results, driven by higher revenues and improved margins. However, shares of the medical device company closed 2.5% lower on March 4.

Cooper (COO) posted 1Q adjusted earnings of $3.17 per share that surpassed analysts’ expectations of $2.78 and jumped 18% year-over-year. Revenue of $680.5 million beat the Street’s estimates of $660.7 million and grew 5% from the year-ago period.

The company’s CooperVision (CVI) revenue came in at $507 million in the quarter, up 4% year-over-year, while CooperSurgical (CSI) sales increased 8% to $173.5 million. Adjusted gross margin was 68%, up from 67% reported in the prior-year quarter. (See Cooper stock analysis on TipRanks)

For the fiscal year 2021, the company projects total revenue to land between $2.8 billion to $2.845 billion, versus the consensus estimate of $2.76 billion. Adjusted EPS is anticipated to range between $12.90 and $13.10, versus analysts’ expectations of $12.54 per share.

On Feb. 11, Piper Sandler analyst Matthew O’Brien increased the stock’s price target to $435 (17% upside potential) from $370 and reiterated a Buy rating. The analyst believes that “first half of 2021 estimates may be a little high due to COVID,” but he remains “bullish on the story over the next 12 months after speaking to a contact lens distributor.”

The consensus rating among analysts is a Strong Buy based on 4 unanimous Buys. The average analyst price target stands at $435 and implies upside potential of about 17% to current levels. Shares have gained more than 14% over the past year.

Additionally, Cooper scores a 9 of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

Related News:
CMC Materials Bumps Up Quarterly Dividend By 5%, Boosts Share Buyback Plan
Wendy’s Drops 5.5% After 4Q Earnings Miss Analysts’ Estimates
Dollar Tree Posts Solid 4Q Earnings As Same-Store Sales Rise

More recent articles from Smarter Analyst: