Goodyear Tire & Rubber Co. (GT) Posts Quarterly Results
Goodyear Tire & Rubber Co. (NYSE:GT) issued its quarterly earnings data on Tuesday. The company reported $0.62 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.63 by $0.01, AnalystRatingsNetwork.com reports. The company had revenue of $5.00 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company posted $0.53 earnings per share. Goodyear Tire & Rubber Co.’s revenue was down 5.0% compared to the same quarter last year.
Shares of Goodyear Tire & Rubber Co. (NYSE:GT) opened at 22.05 on Tuesday. Goodyear Tire & Rubber Co. has a one year low of $10.91 and a one year high of $22.36. The stock has a 50-day moving average of $19.46 and a 200-day moving average of $15.37. The company has a market cap of $5.424 billion and a P/E ratio of 17.67.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, December 1st. Investors of record on Friday, November 1st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, October 30th.
A number of analysts have recently weighed in on GT shares. Analysts at Credit Agricole initiated coverage on shares of Goodyear Tire & Rubber Co. in a research note to investors on Tuesday, October 22nd. They set a “buy” rating and a $29.00 price target on the stock. On the ratings front, analysts at Deutsche Bank downgraded shares of Goodyear Tire & Rubber Co. from a “buy” rating to a “hold” rating in a research note to investors on Monday, October 21st. They now have a $26.00 price target on the stock, down previously from $29.00. Finally, analysts at Zacks upgraded shares of Goodyear Tire & Rubber Co. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, September 27th. They now have a $27.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Goodyear Tire & Rubber Co. presently has an average rating of “Buy” and an average target price of $21.57.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company, together with subsidiaries and joint ventures, develops, manufactures, markets and distributes tires for a range of applications.
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