Northcoast Research Weighs in on Goodyear Tire & Rubber Co’s Q1 2018 Earnings (GT)

Goodyear Tire & Rubber Co (NASDAQ:GT) – Investment analysts at Northcoast Research dropped their Q1 2018 EPS estimates for Goodyear Tire & Rubber in a research note issued to investors on Monday. Northcoast Research analyst N. Mitchell now expects that the company will post earnings per share of $0.54 for the quarter, down from their previous estimate of $0.78. Northcoast Research also issued estimates for Goodyear Tire & Rubber’s Q2 2018 earnings at $0.89 EPS, Q4 2018 earnings at $1.21 EPS, FY2018 earnings at $3.79 EPS and FY2019 earnings at $4.49 EPS.

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

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, January 29th. BidaskClub upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. TheStreet cut shares of Goodyear Tire & Rubber from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Guggenheim set a $32.00 target price on shares of Goodyear Tire & Rubber and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Longbow Research initiated coverage on shares of Goodyear Tire & Rubber in a research report on Wednesday, January 31st. They issued a “neutral” rating for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.30.

Goodyear Tire & Rubber (NASDAQ:GT) opened at $29.34 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $7,236.38, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60. Goodyear Tire & Rubber has a 12-month low of $28.81 and a 12-month high of $37.20.

Several hedge funds and other institutional investors have recently modified their holdings of GT. Levin Capital Strategies L.P. acquired a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $40,383,000. Sound Shore Management Inc. CT increased its position in Goodyear Tire & Rubber by 38.7% during the third quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock worth $133,796,000 after purchasing an additional 1,123,573 shares during the last quarter. Hexavest Inc. increased its position in Goodyear Tire & Rubber by 65.9% during the fourth quarter. Hexavest Inc. now owns 1,631,370 shares of the company’s stock worth $52,710,000 after purchasing an additional 648,313 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Goodyear Tire & Rubber during the third quarter worth about $15,827,000. Finally, Dimensional Fund Advisors LP increased its position in Goodyear Tire & Rubber by 10.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock worth $151,903,000 after purchasing an additional 414,651 shares during the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

In other news, SVP Jean Claude Kihn sold 7,500 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $32.12, for a total value of $240,900.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 41.79%.

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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.

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

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