Goodyear Tire & Rubber Co (NASDAQ:GT) Forecasted to Earn Q2 2019 Earnings of $0.30 Per Share

Goodyear Tire & Rubber Co (NASDAQ:GT) – Research analysts at KeyCorp lowered their Q2 2019 earnings per share (EPS) estimates for Goodyear Tire & Rubber in a research report issued to clients and investors on Tuesday, June 11th. KeyCorp analyst J. Picariello now anticipates that the company will earn $0.30 per share for the quarter, down from their prior forecast of $0.36. KeyCorp currently has a “Sector Weight” rating and a $14.93 price objective on the stock. KeyCorp also issued estimates for Goodyear Tire & Rubber’s Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.67 EPS, FY2019 earnings at $1.80 EPS and FY2020 earnings at $2.50 EPS.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, April 26th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the firm earned $0.50 earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down 6.1% compared to the same quarter last year.

A number of other equities research analysts also recently issued reports on GT. BidaskClub upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. Longbow Research upgraded shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price objective on the stock in a research note on Thursday, June 6th. Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley set a $15.00 price objective on shares of Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Thursday, May 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus target price of $20.85.

Shares of Goodyear Tire & Rubber stock opened at $14.83 on Thursday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 6.39 and a beta of 1.71. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.28. Goodyear Tire & Rubber has a 12-month low of $13.23 and a 12-month high of $25.46.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.32%. Goodyear Tire & Rubber’s payout ratio is 27.59%.

Several institutional investors and hedge funds have recently bought and sold shares of GT. Investors Research Corp acquired a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $25,000. Valeo Financial Advisors LLC acquired a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $27,000. NuWave Investment Management LLC boosted its stake in shares of Goodyear Tire & Rubber by 3,169.2% in the 1st quarter. NuWave Investment Management LLC now owns 1,700 shares of the company’s stock valued at $31,000 after purchasing an additional 1,648 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $35,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $43,000. Institutional investors own 85.29% of the company’s stock.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Earnings History and Estimates for Goodyear Tire & Rubber (NASDAQ:GT)

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