Goodyear Tire & Rubber Co (NASDAQ:GT) – Research analysts at Northcoast Research boosted their Q3 2018 earnings estimates for Goodyear Tire & Rubber in a research report issued on Monday. Northcoast Research analyst N. Mitchell now expects that the company will post earnings per share of $1.16 for the quarter, up from their previous estimate of $1.00. Northcoast Research also issued estimates for Goodyear Tire & Rubber’s Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $1.06 EPS, Q3 2019 earnings at $1.36 EPS and Q4 2019 earnings at $1.39 EPS.
Other equities analysts have also recently issued reports about the company. Guggenheim set a $32.00 price objective on Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Friday, February 9th. TheStreet cut Goodyear Tire & Rubber from a “b” rating to a “c+” rating in a report on Thursday, February 8th. BidaskClub cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, January 29th. Finally, Longbow Research began coverage on Goodyear Tire & Rubber in a report on Wednesday, January 31st. They issued a “neutral” rating for the company. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $37.30.
Goodyear Tire & Rubber (NASDAQ:GT) opened at $29.34 on Tuesday. The firm has a market capitalization of $7,236.38, a PE ratio of 21.90, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 1.21 and a debt-to-equity ratio of 1.05. Goodyear Tire & Rubber has a one year low of $28.81 and a one year high of $37.20.
Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.23. Goodyear Tire & Rubber had a return on equity of 15.70% and a net margin of 2.25%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company posted $0.95 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio is currently 41.79%.
In related news, SVP Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $32.12, for a total transaction of $240,900.00. Following the completion of the transaction, the senior vice president now owns 51,848 shares of the company’s stock, valued at approximately $1,665,357.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. LSV Asset Management boosted its stake in Goodyear Tire & Rubber by 0.4% during the 4th quarter. LSV Asset Management now owns 10,690,364 shares of the company’s stock valued at $345,405,000 after purchasing an additional 47,711 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Goodyear Tire & Rubber by 3.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,015,995 shares of the company’s stock valued at $233,282,000 after purchasing an additional 259,100 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Goodyear Tire & Rubber by 6.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock valued at $230,753,000 after purchasing an additional 411,401 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Goodyear Tire & Rubber by 10.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after purchasing an additional 414,651 shares during the last quarter. Finally, Sound Shore Management Inc. CT boosted its stake in Goodyear Tire & Rubber by 38.7% during the 3rd quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock valued at $133,796,000 after purchasing an additional 1,123,573 shares during the last quarter. 94.44% of the stock is owned by institutional investors.
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Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.
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