Analysts Expect Goodyear Tire & Rubber Co (GT) Will Post Earnings of $0.56 Per Share

Brokerages expect Goodyear Tire & Rubber Co (NASDAQ:GT) to announce earnings of $0.56 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Goodyear Tire & Rubber’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.75. Goodyear Tire & Rubber reported earnings of $0.74 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 24.3%. The company is scheduled to announce its next quarterly earnings results on Friday, April 27th.

According to Zacks, analysts expect that Goodyear Tire & Rubber will report full year earnings of $3.67 per share for the current year, with EPS estimates ranging from $3.44 to $3.90. For the next fiscal year, analysts expect that the firm will post earnings of $4.51 per share, with EPS estimates ranging from $4.01 to $4.99. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Goodyear Tire & Rubber.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.99 earnings per share for the quarter, beating 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 company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year.

GT has been the subject of a number of research reports. Citigroup downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and reduced their price target for the company from $38.00 to $36.00 in a research report on Monday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Zacks Investment Research downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Guggenheim downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a research report on Wednesday, November 1st. Finally, BidaskClub downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Goodyear Tire & Rubber has a consensus rating of “Buy” and an average target price of $37.30.

Shares of Goodyear Tire & Rubber (NASDAQ:GT) opened at $29.66 on Friday. Goodyear Tire & Rubber has a twelve month low of $28.81 and a twelve month high of $37.20. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.21 and a quick ratio of 0.66. The firm has a market capitalization of $7,128.23, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, January 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.89%. Goodyear Tire & Rubber’s dividend payout ratio is currently 41.79%.

In related news, SVP Jean Claude Kihn sold 7,500 shares of Goodyear Tire & Rubber stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $32.12, for a total transaction of $240,900.00. Following the completion of the transaction, the senior vice president now directly owns 51,848 shares in the company, valued at approximately $1,665,357.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. LSV Asset Management raised its holdings in Goodyear Tire & Rubber by 0.4% in the 4th quarter. LSV Asset Management now owns 10,690,364 shares of the company’s stock valued at $345,405,000 after acquiring an additional 47,711 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Goodyear Tire & Rubber by 3.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,015,995 shares of the company’s stock valued at $233,282,000 after acquiring an additional 259,100 shares during the last quarter. Lyrical Asset Management LP raised its holdings in Goodyear Tire & Rubber by 3.0% in the 4th quarter. Lyrical Asset Management LP now owns 6,968,097 shares of the company’s stock valued at $225,139,000 after acquiring an additional 200,005 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Goodyear Tire & Rubber by 6.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock valued at $230,753,000 after acquiring an additional 411,401 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Goodyear Tire & Rubber by 10.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after acquiring an additional 414,651 shares during the last quarter. Institutional investors own 94.71% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Analysts Expect Goodyear Tire & Rubber Co (GT) Will Post Earnings of $0.56 Per Share” was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.thelincolnianonline.com/2018/02/20/analysts-expect-goodyear-tire-rubber-co-gt-will-post-earnings-of-0-56-per-share.html.

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.

Get a free copy of the Zacks research report on Goodyear Tire & Rubber (GT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Goodyear Tire & Rubber (NASDAQ:GT)

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply