The Goodyear Tire & Rubber Company Coverage Initiated by Analysts at SunTrust (GT)
Analysts at SunTrust began coverage on shares of The Goodyear Tire & Rubber Company (NYSE:GT) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of The Goodyear Tire & Rubber Company (NYSE:GT) traded up 1.53% on Wednesday, hitting $25.51. The stock had a trading volume of 2,596,518 shares. The Goodyear Tire & Rubber Company has a one year low of $18.84 and a one year high of $28.70. The stock has a 50-day moving average of $26.17 and a 200-day moving average of $26.28. The company has a market cap of $7.023 billion and a price-to-earnings ratio of 12.21.
The Goodyear Tire & Rubber Company (NYSE:GT) last released its earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts predict that The Goodyear Tire & Rubber Company will post $2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from The Goodyear Tire & Rubber Company’s previous quarterly dividend of $0.05.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of The Goodyear Tire & Rubber Company in a research note on Thursday, July 31st. They now have a $27.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of The Goodyear Tire & Rubber Company in a research note on Wednesday, July 23rd. They set an “overweight” rating and a $38.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of The Goodyear Tire & Rubber Company from $33.00 to $34.00 in a research note on Friday, May 30th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $29.78.
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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