Goodyear Tire & Rubber (NASDAQ:GT) Announces Earnings Results

Goodyear Tire & Rubber (NASDAQ:GT) announced its quarterly earnings data on Friday, July 27th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06, Bloomberg Earnings reports. Goodyear Tire & Rubber had a return on equity of 14.04% and a net margin of 1.69%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year.

Shares of Goodyear Tire & Rubber opened at $24.28 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $5.87 billion, a PE ratio of 8.78 and a beta of 1.65. Goodyear Tire & Rubber has a one year low of $20.75 and a one year high of $36.07. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.36.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 1st will be issued a $0.14 dividend. The ex-dividend date is Tuesday, July 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.31%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 17.95%.

A number of equities research analysts recently commented on GT shares. Longbow Research reaffirmed a “hold” rating on shares of Goodyear Tire & Rubber in a research note on Tuesday, April 17th. JPMorgan Chase & Co. reduced their target price on Goodyear Tire & Rubber from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, April 26th. ValuEngine lowered Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Argus reiterated a “buy” rating and set a $36.00 target price on shares of Goodyear Tire & Rubber in a report on Tuesday, May 8th. Finally, BidaskClub lowered Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.50.

Institutional investors have recently modified their holdings of the company. Trilogy Capital Inc. bought a new stake in shares of Goodyear Tire & Rubber in the first quarter valued at about $160,000. Point72 Asia Hong Kong Ltd raised its holdings in Goodyear Tire & Rubber by 1,888.9% during the first quarter. Point72 Asia Hong Kong Ltd now owns 6,603 shares of the company’s stock worth $176,000 after acquiring an additional 6,271 shares in the last quarter. Ostrum Asset Management bought a new stake in Goodyear Tire & Rubber during the first quarter worth about $179,000. Rampart Investment Management Company LLC raised its holdings in Goodyear Tire & Rubber by 115.6% during the first quarter. Rampart Investment Management Company LLC now owns 7,224 shares of the company’s stock worth $192,000 after acquiring an additional 3,874 shares in the last quarter. Finally, Fiduciary Trust Co. raised its holdings in Goodyear Tire & Rubber by 54.7% during the first quarter. Fiduciary Trust Co. now owns 10,104 shares of the company’s stock worth $268,000 after acquiring an additional 3,574 shares in the last quarter. Institutional investors own 87.66% of the company’s stock.

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

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