Analysts expect The Goodyear Tire & Rubber Company (NASDAQ:GT) to report $0.08 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for The Goodyear Tire & Rubber’s earnings, with estimates ranging from ($0.03) to $0.17. The Goodyear Tire & Rubber posted earnings per share of ($0.60) in the same quarter last year, which indicates a positive year-over-year growth rate of 113.3%. The company is scheduled to report its next quarterly earnings report on Thursday, April 29th.
According to Zacks, analysts expect that The Goodyear Tire & Rubber will report full year earnings of $0.89 per share for the current financial year, with EPS estimates ranging from $0.70 to $1.15. For the next fiscal year, analysts forecast that the business will post earnings of $1.81 per share, with EPS estimates ranging from $1.15 to $2.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for The Goodyear Tire & Rubber.
The Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, February 8th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.28. The Goodyear Tire & Rubber had a negative net margin of 13.81% and a negative return on equity of 14.22%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the business posted $0.19 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year.
Several research firms have issued reports on GT. Northcoast Research boosted their price target on The Goodyear Tire & Rubber from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, February 10th. Morgan Stanley upgraded The Goodyear Tire & Rubber from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $16.00 in a research note on Wednesday, February 10th. Nomura lowered shares of The Goodyear Tire & Rubber from a “neutral” rating to a “reduce” rating and dropped their price target for the stock from $10.00 to $7.00 in a research report on Monday, January 4th. Argus raised The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, February 16th. Finally, TheStreet raised The Goodyear Tire & Rubber from a “d+” rating to a “c-” rating in a report on Monday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $13.56.
Institutional investors have recently bought and sold shares of the stock. Inspire Advisors LLC purchased a new stake in The Goodyear Tire & Rubber in the fourth quarter worth $26,000. Carolina Wealth Advisors LLC purchased a new stake in shares of The Goodyear Tire & Rubber in the first quarter valued at approximately $123,000. Point72 Hong Kong Ltd grew its stake in The Goodyear Tire & Rubber by 286.1% in the third quarter. Point72 Hong Kong Ltd now owns 8,885 shares of the company’s stock worth $68,000 after purchasing an additional 6,584 shares in the last quarter. International Assets Investment Management LLC purchased a new position in The Goodyear Tire & Rubber during the 4th quarter worth $38,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The Goodyear Tire & Rubber during the 4th quarter valued at $113,000. 78.00% of the stock is currently owned by institutional investors.
Shares of GT stock traded down $0.09 during mid-day trading on Monday, reaching $17.83. 203,031 shares of the company’s stock traded hands, compared to its average volume of 4,614,468. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.72 and a current ratio of 1.16. The firm has a market capitalization of $4.19 billion, a PE ratio of -2.45 and a beta of 2.17. The Goodyear Tire & Rubber has a 12 month low of $5.73 and a 12 month high of $19.38. The firm has a 50 day moving average price of $17.21 and a two-hundred day moving average price of $12.17.
The 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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