Analysts Expect The Goodyear Tire & Rubber Company (GT) to Post $0.82 EPS

Wall Street analysts expect that The Goodyear Tire & Rubber Company (NASDAQ:GT) will announce earnings of $0.82 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for The Goodyear Tire & Rubber Company’s earnings. The highest EPS estimate is $0.94 and the lowest is $0.62. The Goodyear Tire & Rubber Company posted earnings of $1.16 per share in the same quarter last year, which suggests a negative year over year growth rate of 29.3%. The business is scheduled to announce its next earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that The Goodyear Tire & Rubber Company will report full-year earnings of $3.90 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $4.18. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.03 per share, with EPS estimates ranging from $4.13 to $5.75. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow The Goodyear Tire & Rubber Company.

The Goodyear Tire & Rubber Company (NASDAQ:GT) last released its quarterly earnings results on Friday, April 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. The Goodyear Tire & Rubber Company had a return on equity of 22.60% and a net margin of 8.22%. The Goodyear Tire & Rubber Company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share.

A number of brokerages have recently commented on GT. Goldman Sachs Group, Inc. (The) downgraded The Goodyear Tire & Rubber Company from a “buy” rating to a “neutral” rating and cut their price objective for the company from $34.00 to $33.00 in a research report on Thursday, March 30th. They noted that the move was a valuation call. Morgan Stanley upgraded The Goodyear Tire & Rubber Company from an “underweight” rating to an “overweight” rating in a research report on Thursday, June 1st. Zacks Investment Research downgraded The Goodyear Tire & Rubber Company from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. Jefferies Group LLC set a $40.00 price objective on The Goodyear Tire & Rubber Company and gave the company a “hold” rating in a research report on Monday, May 8th. Finally, Citigroup Inc. increased their target price on The Goodyear Tire & Rubber Company from $36.00 to $41.00 and gave the company a “buy” rating in a report on Friday, April 7th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.04.

The Goodyear Tire & Rubber Company (NASDAQ:GT) traded down 0.51% during trading on Thursday, reaching $33.46. The company’s stock had a trading volume of 1,193,463 shares. The firm has a market capitalization of $8.43 billion, a P/E ratio of 7.06 and a beta of 1.61. The firm has a 50-day moving average price of $34.09 and a 200-day moving average price of $33.84. The Goodyear Tire & Rubber Company has a 52 week low of $24.31 and a 52 week high of $37.20.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, April 27th. The Goodyear Tire & Rubber Company’s dividend payout ratio (DPR) is presently 8.46%.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $35.29, for a total value of $220,562.50. Following the transaction, the insider now directly owns 78,099 shares of the company’s stock, valued at $2,756,113.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 18,750 shares of company stock worth $661,625 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Financial Architects Inc increased its position in The Goodyear Tire & Rubber Company by 101.5% in the first quarter. Financial Architects Inc now owns 3,471 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in The Goodyear Tire & Rubber Company by 21.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,077 shares of the company’s stock worth $147,000 after buying an additional 716 shares during the period. Global X Management Co. LLC increased its position in The Goodyear Tire & Rubber Company by 30.4% in the first quarter. Global X Management Co. LLC now owns 4,936 shares of the company’s stock worth $178,000 after buying an additional 1,150 shares during the period. Pacer Advisors Inc. increased its position in The Goodyear Tire & Rubber Company by 3.2% in the first quarter. Pacer Advisors Inc. now owns 5,426 shares of the company’s stock worth $195,000 after buying an additional 167 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd bought a new position in The Goodyear Tire & Rubber Company during the first quarter worth $200,000. 92.79% of the stock is currently owned by institutional investors and hedge funds.

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The Goodyear Tire & Rubber Company 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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