Cooper Expected to Report Disappointing 4Q
Deutsche Bank analysts are expecting Cooper to announce losses of $0.14 per share when the company releases its fourth quarter results. The analysts are already describing the period as “another weak quarter.” Cooper is said to have under-performed the market in recent times. According to the Deutsche Bank analysts, Cooper’s third quarter North American (NA) volume declined 6 per cent compared with a drop of 1 per cent across the market.
In the same way the company’s second quarter NA volumes dropped 3 per cent against a market increase of 2 per cent. “And we believe our flat year-on-year shipment estimate for Cooper in 4Q may prove optimistic.,” the analysts added. “While CTB may be headed for profit improvement this year, execution problems and market share losses remain significant concerns,” the report concluded.