Cooper Companies (NASDAQ:COO) Updates FY2024 Revenue Guidance

Cooper Companies (NASDAQ:COO – Get Your Free Report ) issued an update on its earnings guidance for the fiscal year 2024 on Wednesday morning. The company provided an EPS estimate of 3.640-3.670 for the period, compared to the estimate consensus EPS of 3.570. The company issued a revenue estimate of $3.9 billion – $3.9 billion, compared to the consensus revenue estimate of $3.9 billion. Cooper Companies also upgraded its Q4 guidance to $0.98-$1.01 EPS.

Cooper Companies trades 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 company’s 50-day simple moving average is $91.25, and its 200-day simple moving average is $94.12.

Cooper Companies (NASDAQ:COO – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 28th. The medical devices 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. In the same quarter last year, the company earned $0.84 per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cooper Companies will post 3.57 earnings per share for the current fiscal year.

Changes in Analyst Ratings

A number of research analysts have recently issued reports on COO shares. Piper Sandler upped their target price 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 boosted their price target 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 target price (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 from Tuesday, July 16. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Moderate Buy and a consensus price target of $113.61, based on data from MarketBeat.com.

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About Cooper Companies

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Cooper Companies, Inc, together with its subsidiaries, develops, manufactures and markets contact lens wearers. The company operates through two segments, CooperVision and CooperSurgical. The CooperVision segment offers spherical lenses, including lenses that correct myopia and hyperopia; and toric and multifocal lenses comprising lenses that correct vision problems such as astigmatism, presbyopia and myopia in the Americas, Europe, the Middle East, Africa and Asia Pacific.

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