Goodyear Tire & Rubber Co (NASDAQ:GT) announced a quarterly dividend on Monday, July 15th, RTT News reports. Stockholders of record on Thursday, August 1st will be given a dividend of 0.16 per share on Tuesday, September 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Wednesday, July 31st.
Goodyear Tire & Rubber has raised its dividend payment by an average of 32.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Goodyear Tire & Rubber has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Goodyear Tire & Rubber to earn $2.50 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 25.6%.
GT opened at $15.09 on Wednesday. Goodyear Tire & Rubber has a twelve month low of $13.23 and a twelve month high of $25.41. The company has a market capitalization of $3.50 billion, a PE ratio of 6.50 and a beta of 1.74. The company’s 50 day simple moving average is $14.81. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.28.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, April 26th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a return on equity of 9.59% and a net margin of 3.65%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that Goodyear Tire & Rubber will post 1.79 earnings per share for the current fiscal year.
Several brokerages recently commented on GT. ValuEngine raised VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. KeyCorp reaffirmed a “buy” rating and issued a $235.00 price target on shares of Workday in a report on Wednesday, May 22nd. Longbow Research raised Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price target on the stock in a report on Thursday, June 6th. BidaskClub cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Morgan Stanley set a $12.00 price target on Adient and gave the company a “sell” rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Goodyear Tire & Rubber has a consensus rating of “Hold” and an average target price of $20.74.
Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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