Northcoast Research Brokers Lift Earnings Estimates for Goodyear Tire & Rubber Co (GT)

Goodyear Tire & Rubber Co (NASDAQ:GT) – Research analysts at Northcoast Research boosted their Q3 2018 earnings per share (EPS) estimates for Goodyear Tire & Rubber in a report issued on Monday. Northcoast Research analyst N. Mitchell now anticipates that the company will post earnings per share of $1.16 for the quarter, up from their previous estimate of $1.00. Northcoast Research also issued estimates for Goodyear Tire & Rubber’s Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $1.06 EPS, Q3 2019 earnings at $1.36 EPS and Q4 2019 earnings at $1.39 EPS.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.23. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.96 billion. Goodyear Tire & Rubber had a return on equity of 15.70% and a net margin of 2.25%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share.

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, January 29th. Guggenheim set a $32.00 price target on Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Friday. Longbow Research began coverage on Goodyear Tire & Rubber in a report on Wednesday, January 31st. They issued a “neutral” rating for the company. Finally, Citigroup downgraded Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $36.00 in a report on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $37.30.

Shares of Goodyear Tire & Rubber (NASDAQ GT) opened at $30.11 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.21 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $7,207.54, a PE ratio of 22.47, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. Goodyear Tire & Rubber has a twelve month low of $28.81 and a twelve month high of $37.20.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, January 31st. Goodyear Tire & Rubber’s payout ratio is 41.79%.

In other news, SVP Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $32.12, for a total value of $240,900.00. Following the completion of the transaction, the senior vice president now directly owns 51,848 shares in the company, valued at $1,665,357.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. LSV Asset Management raised its position in Goodyear Tire & Rubber by 0.4% during the fourth quarter. LSV Asset Management now owns 10,690,364 shares of the company’s stock valued at $345,405,000 after acquiring an additional 47,711 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Goodyear Tire & Rubber by 3.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,015,995 shares of the company’s stock valued at $233,282,000 after acquiring an additional 259,100 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Goodyear Tire & Rubber by 6.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock valued at $230,753,000 after purchasing an additional 411,401 shares during the period. Dimensional Fund Advisors LP grew its holdings in Goodyear Tire & Rubber by 10.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after purchasing an additional 414,651 shares during the period. Finally, Sound Shore Management Inc. CT grew its holdings in Goodyear Tire & Rubber by 38.7% in the third quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock valued at $133,796,000 after purchasing an additional 1,123,573 shares during the period. Institutional investors own 94.44% of the company’s stock.

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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.

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

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