2023-05-31 16:19:37 ET
Needham said that it sees Cooper Companies ( NYSE: COO ) beating fiscal Q2 2023 consensus estimates and raising guidance when it releases its quarterly earnings report after market close on Thursday.
Needham analyst David Saxon said in a note that they see Cooper topping expectations due to improving market fundamentals, easing currency and conservative estimates. They also expect Cooper management to raise fiscal 2023 guidance on revenue and earnings per share.
According to Needham, FactSet's consensus estimates call for Cooper to report fiscal Q2 earnings per share of $3.03 and revenue of $865M. Needham's estimates are earnings per share of $3.07 and revenue of $873M.
Needham added that Cooper's fiscal 2023 guidance is for earnings per share of $12.60 to $12.90 and revenue of $3.496B and $3.553B.
The investment bank maintained its hold rating on the stock, citing valuation.
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Needham sees Cooper beating fiscal Q2 estimates, raising guidance