The Goodyear Tire & Rubber Company (GT) Declares Quarterly Dividend of $0.14
The Goodyear Tire & Rubber Company (NASDAQ:GT) announced a quarterly dividend on Wednesday, October 11th, RTT News reports. Stockholders of record on Wednesday, November 1st will be paid a dividend of 0.14 per share on Friday, December 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10.
Shares of The Goodyear Tire & Rubber (GT) traded up 0.39% during midday trading on Wednesday, reaching $33.15. The company had a trading volume of 640,704 shares. The company’s 50 day moving average price is $31.80 and its 200 day moving average price is $33.54. The stock has a market capitalization of $8.35 billion, a PE ratio of 7.30 and a beta of 1.56. The Goodyear Tire & Rubber has a 52-week low of $26.82 and a 52-week high of $37.20.
The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. Equities research analysts expect that The Goodyear Tire & Rubber will post $3.05 earnings per share for the current year.
In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.44, for a total value of $243,300.00. Following the transaction, the insider now directly owns 74,348 shares in the company, valued at approximately $2,411,849.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 15,501 shares of company stock worth $507,866 over the last quarter. Company insiders own 1.40% of the company’s stock.
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A number of research analysts recently issued reports on the company. Jefferies Group LLC set a $36.00 price target on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Monday, August 7th. BidaskClub downgraded The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) set a $29.00 price target on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Tuesday, August 1st. Morgan Stanley restated an “overweight” rating and set a $46.00 price target (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $38.11.
The Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.
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