GT has been the subject of several other reports. Longbow Research lowered shares of Goodyear Tire & Rubber from a neutral rating to an underperform rating and set a $14.00 target price for the company. in a report on Monday, February 11th. Argus lowered shares of Goodyear Tire & Rubber from a buy rating to a hold rating in a report on Monday, February 11th. ValuEngine raised shares of Goodyear Tire & Rubber from a strong sell rating to a sell rating in a report on Friday, March 1st. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a strong sell rating to a hold rating in a report on Tuesday, April 16th. Finally, Morgan Stanley set a $15.00 target price on shares of Goodyear Tire & Rubber and gave the stock a hold rating in a report on Thursday, May 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Goodyear Tire & Rubber presently has an average rating of Hold and an average target price of $20.85.
NASDAQ GT opened at $14.91 on Tuesday. Goodyear Tire & Rubber has a 52 week low of $13.23 and a 52 week high of $25.46. The stock has a market cap of $3.45 billion, a PE ratio of 6.43 and a beta of 1.71. The company has a quick ratio of 0.70, a current ratio of 1.28 and a debt-to-equity ratio of 1.10.
Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, April 26th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that Goodyear Tire & Rubber will post 1.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.29%. The ex-dividend date was Tuesday, April 30th. Goodyear Tire & Rubber’s dividend payout ratio is 27.59%.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Goodyear Tire & Rubber by 46.9% during the 1st quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock valued at $445,017,000 after buying an additional 7,827,837 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Goodyear Tire & Rubber by 1,711.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,329,973 shares of the company’s stock valued at $163,000 after buying an additional 3,146,166 shares in the last quarter. Norges Bank purchased a new stake in Goodyear Tire & Rubber during the 4th quarter valued at approximately $44,517,000. Millennium Management LLC grew its holdings in Goodyear Tire & Rubber by 2,196.7% during the 4th quarter. Millennium Management LLC now owns 2,190,955 shares of the company’s stock valued at $44,717,000 after buying an additional 2,095,559 shares in the last quarter. Finally, AJO LP grew its holdings in Goodyear Tire & Rubber by 295.0% during the 1st quarter. AJO LP now owns 2,187,264 shares of the company’s stock valued at $39,699,000 after buying an additional 1,633,511 shares in the last quarter. 85.29% of the stock is owned by institutional investors.
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. 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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