KeyCorp Initiates Coverage on Goodyear Tire & Rubber (GT)

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KeyCorp began coverage on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a report published on Wednesday, Benzinga reports. The brokerage issued a sector weight rating and a $14.93 price target on the stock. KeyCorp also issued estimates for Goodyear Tire & Rubber’s Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.66 EPS, Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $2.00 EPS and FY2020 earnings at $2.60 EPS.

A number of other research firms have also recently commented on GT. Jefferies Financial Group restated a buy rating and issued a $25.00 price objective on shares of Goodyear Tire & Rubber in a research report on Tuesday, February 5th. Morgan Stanley set a $19.00 price objective on shares of Goodyear Tire & Rubber and gave the company a hold rating in a research report on Tuesday, January 29th. Argus cut shares of Goodyear Tire & Rubber from a buy rating to a hold rating in a research report on Monday, February 11th. BidaskClub upgraded shares of Goodyear Tire & Rubber from a sell rating to a hold rating in a research report on Saturday, February 23rd. Finally, Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a strong sell rating to a hold rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $20.77.

GT stock opened at $14.64 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.28. The firm has a market capitalization of $3.40 billion, a PE ratio of 6.31, a P/E/G ratio of -1.56 and a beta of 1.51. Goodyear Tire & Rubber has a twelve month low of $14.44 and a twelve month high of $25.82.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.74 billion. Goodyear Tire & Rubber had a return on equity of 9.59% and a net margin of 3.65%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. On average, analysts expect that Goodyear Tire & Rubber will post 2.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.37%. Goodyear Tire & Rubber’s dividend payout ratio is 27.59%.

Institutional investors have recently bought and sold shares of the company. Investors Research Corp acquired a new position in shares of Goodyear Tire & Rubber during the 1st quarter worth about $25,000. Valeo Financial Advisors LLC acquired a new position in shares of Goodyear Tire & Rubber during the 1st quarter worth about $27,000. NuWave Investment Management LLC boosted its stake in shares of Goodyear Tire & Rubber by 3,169.2% during the 1st quarter. NuWave Investment Management LLC now owns 1,700 shares of the company’s stock worth $31,000 after buying an additional 1,648 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth about $35,000. Finally, Captrust Financial Advisors acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth about $43,000. Institutional investors own 88.24% 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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Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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