Analysts Expect Goodyear Tire & Rubber Co (NASDAQ:GT) to Announce $0.50 Earnings Per Share

Equities analysts expect that Goodyear Tire & Rubber Co (NASDAQ:GT) will post earnings per share of $0.50 for the current quarter, according to Zacks. Three analysts have made estimates for Goodyear Tire & Rubber’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.36. Goodyear Tire & Rubber reported earnings per share of $0.51 during the same quarter last year, which would indicate a negative year over year growth rate of 2%. The business is expected to announce its next quarterly earnings results on Friday, February 14th.

According to Zacks, analysts expect that Goodyear Tire & Rubber will report full year earnings of $1.38 per share for the current financial year, with EPS estimates ranging from $1.24 to $1.56. For the next financial year, analysts expect that the firm will post earnings of $2.24 per share, with EPS estimates ranging from $1.94 to $2.67. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Goodyear Tire & Rubber.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). Goodyear Tire & Rubber had a net margin of 1.28% and a return on equity of 6.50%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis.

Several research analysts recently commented on GT shares. Nomura started coverage on Goodyear Tire & Rubber in a research report on Monday, December 30th. They set a “buy” rating and a $20.00 price target for the company. Northcoast Research cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 29th. BidaskClub cut Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Zacks Investment Research raised Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.19.

NASDAQ GT traded down $0.44 during trading hours on Friday, hitting $14.20. 3,354,554 shares of the company traded hands, compared to its average volume of 2,369,042. The business’s 50-day moving average is $15.26 and its 200-day moving average is $14.47. Goodyear Tire & Rubber has a twelve month low of $10.74 and a twelve month high of $21.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.33. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 17.32 and a beta of 1.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 3rd will be given a $0.16 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.51%. Goodyear Tire & Rubber’s payout ratio is 27.59%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. increased its stake 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 purchasing an additional 42,492 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Goodyear Tire & Rubber by 2.2% during the second quarter. Public Employees Retirement System of Ohio now owns 88,425 shares of the company’s stock worth $1,353,000 after purchasing an additional 1,934 shares during the period. MML Investors Services LLC increased its stake in shares of Goodyear Tire & Rubber by 24.4% during the second quarter. MML Investors Services LLC now owns 38,815 shares of the company’s stock worth $594,000 after purchasing an additional 7,619 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Goodyear Tire & Rubber during the second quarter worth approximately $156,000. Finally, Holocene Advisors LP bought a new position in shares of Goodyear Tire & Rubber during the second quarter worth approximately $435,000. 83.52% of the stock is owned by 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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