CooperCompanies Raises FY24 Total Revenue Forecast From $3.809B-$3.877B To $3.847B-$3.897B (Est $3.847B), Adj EPS To $3.50-$3.58 (Est $3.46)
Portfolio Pulse from Benzinga Newsdesk
CooperCompanies has increased its FY24 total revenue forecast to $3.847B-$3.897B from the previous $3.809B-$3.877B, with an adjusted EPS forecast raised to $3.50-$3.58 from the prior $13.60-$14.00, reflecting adjustments from a four-for-one stock split effective February 16, 2024.
February 29, 2024 | 9:22 pm
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CooperCompanies raised its FY24 revenue and adjusted EPS forecasts, reflecting a positive outlook post a four-for-one stock split.
Raising revenue and EPS forecasts typically signals a company's confidence in its future performance, which can positively influence investor sentiment and stock price. The adjustment of the EPS forecast from $13.60-$14.00 to $3.50-$3.58, after accounting for the four-for-one stock split, indicates a recalibration but maintains a positive outlook. The stock split may also make shares more accessible to a broader range of investors, potentially increasing liquidity and demand.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100