Q2 2024 EPS Estimates for The Goodyear Tire & Rubber Company Cut by Analyst (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) – Stock analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for shares of Goodyear Tire & Rubber in a research report issued to clients and investors on Friday, May 24th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.19 for the quarter, down from their prior estimate of $0.22. The consensus estimate for Goodyear Tire & Rubber’s current full-year earnings is $1.27 per share. Zacks Research also issued estimates for Goodyear Tire & Rubber’s Q3 2024 earnings at $0.45 EPS, Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $1.22 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.62 EPS, Q4 2025 earnings at $0.76 EPS, FY2025 earnings at $2.05 EPS, Q1 2026 earnings at $0.43 EPS and FY2026 earnings at $2.62 EPS.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) EPS.

GT has been the topic of a number of other research reports. HSBC lowered their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th.

Goodyear Tire & Rubber Trading Up 1.0 %

NASDAQ GT opened at $12.34 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.60 and a debt-to-equity ratio of 1.56. Goodyear Tire & Rubber has a 1-year low of $11.26 and a 1-year high of $16.50. The firm’s fifty day simple moving average is $12.66 and its 200-day simple moving average is $13.21. The company has a market capitalization of $3.51 billion, a PE ratio of -5.46 and a beta of 1.86.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at $28,000. Jones Financial Companies Lllp bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $33,000. Headinvest LLC acquired a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth about $34,000. Kapitalo Investimentos Ltda acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth about $72,000. Finally, Covestor Ltd boosted its stake in Goodyear Tire & Rubber by 33.6% during the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock valued at $70,000 after purchasing an additional 1,284 shares during the period. Institutional investors and hedge funds own 84.19% 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. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.