A number of other equities analysts also recently commented on GT. Jefferies Group reiterated a buy rating and set a $36.00 price objective on shares of Goodyear Tire & Rubber in a research report on Thursday, October 12th. KeyCorp restated a buy rating and issued a $37.00 target price on shares of Goodyear Tire & Rubber in a research report on Thursday, October 12th. BidaskClub upgraded Goodyear Tire & Rubber from a sell rating to a hold rating in a research report on Saturday, October 21st. Citigroup downgraded Goodyear Tire & Rubber from a buy rating to a neutral rating and reduced their target price for the company from $38.00 to $36.00 in a research report on Monday, October 30th. Finally, JPMorgan Chase & Co. reduced their target price on Goodyear Tire & Rubber from $40.00 to $38.00 and set an overweight rating on the stock in a research report on Monday, October 30th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $37.30.
Goodyear Tire & Rubber (NASDAQ GT) opened at $30.11 on Friday. Goodyear Tire & Rubber has a 1 year low of $28.81 and a 1 year high of $37.20. The company has a market capitalization of $7,420.00, a P/E ratio of 22.47, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 1.21.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.23. Goodyear Tire & Rubber had a return on equity of 15.70% and a net margin of 2.25%. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. analysts forecast that Goodyear Tire & Rubber will post 3.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.86%. Goodyear Tire & Rubber’s dividend payout ratio is presently 41.79%.
In related news, SVP Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.12, for a total value of $240,900.00. Following the sale, the senior vice president now owns 51,848 shares in the company, valued at approximately $1,665,357.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of GT. Profund Advisors LLC grew its stake in Goodyear Tire & Rubber by 22.4% during the 2nd quarter. Profund Advisors LLC now owns 6,985 shares of the company’s stock worth $244,000 after purchasing an additional 1,277 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Goodyear Tire & Rubber by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,560 shares of the company’s stock worth $334,000 after purchasing an additional 280 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Goodyear Tire & Rubber during the 2nd quarter worth $362,000. Janus Henderson Group PLC grew its stake in Goodyear Tire & Rubber by 30.5% during the 2nd quarter. Janus Henderson Group PLC now owns 51,800 shares of the company’s stock worth $1,811,000 after purchasing an additional 12,094 shares in the last quarter. Finally, U S Global Investors Inc. grew its stake in Goodyear Tire & Rubber by 9.0% during the 2nd quarter. U S Global Investors Inc. now owns 33,800 shares of the company’s stock worth $1,182,000 after purchasing an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.
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Goodyear Tire & Rubber 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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