Goodyear Tire & Rubber Co (NASDAQ:GT) – Stock analysts at Jefferies Financial Group issued their Q3 2018 earnings estimates for Goodyear Tire & Rubber in a research note issued to investors on Friday, October 12th. Jefferies Financial Group analyst A. Kurian anticipates that the company will post earnings of $0.80 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a $30.00 price target on the stock. Jefferies Financial Group also issued estimates for Goodyear Tire & Rubber’s FY2018 earnings at $2.80 EPS.
Several other brokerages have also recently weighed in on GT. Argus dropped their target price on Goodyear Tire & Rubber to $30.00 and set an “average” rating for the company in a report on Monday, August 6th. They noted that the move was a valuation call. Northcoast Research restated a “buy” rating on shares of Goodyear Tire & Rubber in a report on Monday, June 25th. Morgan Stanley cut Goodyear Tire & Rubber from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $33.00 to $23.00 in a report on Monday, August 13th. Zacks Investment Research cut Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, BidaskClub upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Goodyear Tire & Rubber has a consensus rating of “Hold” and an average price target of $28.38.
Shares of GT stock opened at $21.01 on Monday. The stock has a market cap of $5.54 billion, a P/E ratio of 6.71 and a beta of 1.69. Goodyear Tire & Rubber has a 1-year low of $20.31 and a 1-year high of $36.07. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.36 and a quick ratio of 0.75.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, July 27th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Goodyear Tire & Rubber had a return on equity of 14.04% and a net margin of 1.69%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GT. Sei Investments Co. raised its position in Goodyear Tire & Rubber by 21.2% during the 1st quarter. Sei Investments Co. now owns 82,336 shares of the company’s stock valued at $2,188,000 after purchasing an additional 14,394 shares during the last quarter. Stifel Financial Corp raised its position in shares of Goodyear Tire & Rubber by 20.2% in the 1st quarter. Stifel Financial Corp now owns 40,950 shares of the company’s stock worth $1,089,000 after acquiring an additional 6,888 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Goodyear Tire & Rubber in the 1st quarter worth approximately $667,000. Ostrum Asset Management bought a new position in shares of Goodyear Tire & Rubber in the 1st quarter worth approximately $179,000. Finally, Element Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the 1st quarter worth approximately $407,000. 86.52% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, October 31st. Goodyear Tire & Rubber’s payout ratio is 17.95%.
Goodyear Tire & Rubber Company Profile
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, 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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