GT has been the topic of a number of other reports. Exane BNP Paribas began coverage on Goodyear Tire & Rubber in a research note on Friday, August 16th. They issued an outperform rating and a $15.00 price target on the stock. ValuEngine upgraded Goodyear Tire & Rubber from a sell rating to a hold rating in a report on Tuesday, September 10th. Northcoast Research downgraded shares of Goodyear Tire & Rubber from a buy rating to a neutral rating in a research note on Tuesday, October 29th. Finally, BNP Paribas initiated coverage on shares of Goodyear Tire & Rubber in a report on Friday, August 16th. They set an outperform rating and a $10.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $16.46.
Shares of NASDAQ:GT opened at $16.11 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.33 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $16.09 and a 200 day moving average price of $14.37. Goodyear Tire & Rubber has a 52 week low of $10.74 and a 52 week high of $22.94. The company has a market cap of $3.75 billion, a P/E ratio of 6.94 and a beta of 1.74.
Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Goodyear Tire & Rubber had a return on equity of 6.50% and a net margin of 1.28%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company earned $0.68 EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts expect that Goodyear Tire & Rubber will post 1.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.64 annualized dividend and a yield of 3.97%. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. grew its position in shares of Goodyear Tire & Rubber by 87.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 91,341 shares of the company’s stock worth $1,658,000 after buying an additional 42,492 shares in the last quarter. Arizona State Retirement System boosted its stake in Goodyear Tire & Rubber by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 168,723 shares of the company’s stock valued at $2,581,000 after acquiring an additional 1,992 shares during the last quarter. Bailard Inc. acquired a new position in Goodyear Tire & Rubber during the 2nd quarter worth $262,000. First Trust Advisors LP grew its holdings in Goodyear Tire & Rubber by 91.4% during the 2nd quarter. First Trust Advisors LP now owns 705,683 shares of the company’s stock worth $10,797,000 after acquiring an additional 337,061 shares in the last quarter. Finally, Dupont Capital Management Corp increased its position in shares of Goodyear Tire & Rubber by 69.7% in the 2nd quarter. Dupont Capital Management Corp now owns 18,500 shares of the company’s stock worth $283,000 after purchasing an additional 7,600 shares during the last quarter. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
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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