Goodyear Tire & Rubber Co (GT) to Post FY2018 Earnings of $2.71 Per Share, Jefferies Financial Group Forecasts

Goodyear Tire & Rubber Co (NASDAQ:GT) – Equities researchers at Jefferies Financial Group reduced their FY2018 EPS estimates for shares of Goodyear Tire & Rubber in a research report issued on Tuesday, October 30th. Jefferies Financial Group analyst A. Kurian now anticipates that the company will post earnings per share of $2.71 for the year, down from their prior forecast of $2.80. Jefferies Financial Group currently has a “Buy” rating and a $30.00 price objective on the stock.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, October 26th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.08). The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Goodyear Tire & Rubber had a return on equity of 13.84% and a net margin of 3.11%. Goodyear Tire & Rubber’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share.

Several other equities research analysts have also commented on the stock. Goldman Sachs Group lowered shares of Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Berenberg Bank lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Friday, August 31st. Morgan Stanley lowered shares of Goodyear Tire & Rubber from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $33.00 to $23.00 in a research report on Monday, August 13th. BidaskClub lowered shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 5th. Finally, Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $27.88.

Shares of NASDAQ GT opened at $21.06 on Wednesday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 6.75 and a beta of 1.69. Goodyear Tire & Rubber has a one year low of $19.25 and a one year high of $36.07. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.34.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.56 annualized dividend and a dividend yield of 2.66%. Goodyear Tire & Rubber’s dividend payout ratio is presently 17.95%.

Institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its position in shares of Goodyear Tire & Rubber by 0.8% in the 2nd quarter. Swiss National Bank now owns 796,300 shares of the company’s stock worth $18,546,000 after buying an additional 6,000 shares in the last quarter. Bbva Compass Bancshares Inc. raised its stake in Goodyear Tire & Rubber by 9.2% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 95,517 shares of the company’s stock valued at $2,225,000 after purchasing an additional 8,044 shares during the last quarter. Smith Graham & Co. Investment Advisors LP raised its stake in Goodyear Tire & Rubber by 8.9% in the 2nd quarter. Smith Graham & Co. Investment Advisors LP now owns 208,110 shares of the company’s stock valued at $4,847,000 after purchasing an additional 17,010 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Goodyear Tire & Rubber by 35.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,803,959 shares of the company’s stock valued at $42,057,000 after purchasing an additional 472,875 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Goodyear Tire & Rubber by 8.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 60,879 shares of the company’s stock valued at $1,418,000 after purchasing an additional 4,504 shares during the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.

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

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