Cooper Companies (NASDAQ:COO) Issues FY 2024 Earnings Guidance

Cooper Companies (NASDAQ:COO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.640-3.670 for the period, compared to the consensus EPS 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 Price Performance

Shares of NASDAQ:COO opened at $105.73 on Friday. The firm has a market capitalization of $21.05 billion, a PE ratio of 62.19, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.95. Cooper Companies has a 52-week low of $75.93 and a 52-week high of $106.95. The firm has a fifty day moving average of $91.53 and a 200 day moving average of $94.19.

Cooper Companies (NASDAQ:COO) last posted its quarterly earnings data 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. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $997.30 million. Cooper Companies had a return on equity of 8.87% and a net margin of 9.11%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. As a group, research analysts anticipate that Cooper Companies will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reiterated a hold rating on shares of Cooper Companies in a research report on Thursday. Robert W. Baird upped their price target on shares of Cooper Companies from $118.00 to $125.00 and gave the company an outperform rating in a report on Thursday. 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 report on Thursday. Wells Fargo & Company boosted their price objective on shares of Cooper Companies from $110.00 to $115.00 and gave the company an overweight rating in a research report on Thursday. Finally, Stifel Nicolaus reiterated a buy rating and set a $115.00 target price (up from $110.00) on shares of Cooper Companies in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price 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.