Goodyear Tire & Rubber Co (GT) Expected to Post Quarterly Sales of $3.91 Billion

Analysts forecast that Goodyear Tire & Rubber Co (NASDAQ:GT) will report sales of $3.91 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Goodyear Tire & Rubber’s earnings. The lowest sales estimate is $3.87 billion and the highest is $3.99 billion. Goodyear Tire & Rubber reported sales of $3.74 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 8th.

On average, analysts expect that Goodyear Tire & Rubber will report full-year sales of $3.91 billion for the current financial year, with estimates ranging from $15.19 billion to $15.51 billion. For the next fiscal year, analysts expect that the company will report sales of $15.54 billion per share, with estimates ranging from $15.08 billion to $16.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Goodyear Tire & Rubber.

GT has been the subject of a number of recent research reports. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a report on Monday, October 9th. Jefferies Group reiterated a “buy” rating and issued a $36.00 target price on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. KeyCorp reiterated a “buy” rating and issued a $37.00 target price on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. BidaskClub upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Finally, Citigroup cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $38.00 to $36.00 in a report on Monday, October 30th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.00.

In related news, SVP Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.12, for a total transaction of $240,900.00. Following the completion of the transaction, the senior vice president now owns 51,848 shares in the company, valued at approximately $1,665,357.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 143.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after buying an additional 2,682 shares during the period. Shell Asset Management Co. lifted its holdings in shares of Goodyear Tire & Rubber by 100.3% in the 3rd quarter. Shell Asset Management Co. now owns 98,801 shares of the company’s stock worth $2,231,000 after buying an additional 49,484 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Goodyear Tire & Rubber by 44.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 159,759 shares of the company’s stock worth $5,312,000 after buying an additional 49,500 shares during the period. Psagot Investment House Ltd. lifted its holdings in shares of Goodyear Tire & Rubber by 311.5% in the 3rd quarter. Psagot Investment House Ltd. now owns 10,700 shares of the company’s stock worth $356,000 after buying an additional 8,100 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Goodyear Tire & Rubber by 15.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 146,118 shares of the company’s stock worth $4,858,000 after buying an additional 19,322 shares during the period. Institutional investors and hedge funds own 94.98% of the company’s stock.

Goodyear Tire & Rubber (NASDAQ GT) opened at $34.51 on Friday. The company has a market capitalization of $8,500.00, a P/E ratio of 8.92, a PEG ratio of 0.79 and a beta of 1.53. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12. Goodyear Tire & Rubber has a 1-year low of $28.81 and a 1-year high of $37.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Wednesday, January 31st. Goodyear Tire & Rubber’s payout ratio is currently 14.47%.

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About Goodyear Tire & Rubber

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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