Goodyear Tire & Rubber Co (NASDAQ:GT) – Investment analysts at Northcoast Research dropped their Q1 2019 EPS estimates for shares of Goodyear Tire & Rubber in a report released on Thursday, February 14th. Northcoast Research analyst J. Healy now forecasts that the company will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.20. Northcoast Research also issued estimates for Goodyear Tire & Rubber’s Q2 2019 earnings at $0.53 EPS, Q1 2020 earnings at $0.37 EPS and Q2 2020 earnings at $0.72 EPS.
Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Thursday. Argus downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. Longbow Research downgraded shares of Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a research report on Monday, February 11th. ValuEngine downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Friday, February 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $25.00 target price on shares of Goodyear Tire & Rubber in a research report on Tuesday, February 5th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $23.56.
Shares of Goodyear Tire & Rubber stock opened at $18.79 on Friday. The company has a market cap of $4.36 billion, a P/E ratio of 8.10, a P/E/G ratio of -1.52 and a beta of 1.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.24. Goodyear Tire & Rubber has a 1 year low of $17.88 and a 1 year high of $30.00.
Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, February 8th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.09). The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $4.04 billion. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. Goodyear Tire & Rubber’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, January 31st. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. Goodyear Tire & Rubber’s payout ratio is presently 27.59%.
In related news, Director Werner Geissler bought 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The shares were bought at an average price of $18.65 per share, for a total transaction of $652,750.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $932,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $35,000. Captrust Financial Advisors bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $43,000. CSat Investment Advisory L.P. increased its stake in Goodyear Tire & Rubber by 58.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock valued at $50,000 after purchasing an additional 914 shares in the last quarter. Fort L.P. bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $85,000. Finally, Dupont Capital Management Corp increased its stake in Goodyear Tire & Rubber by 44.8% during the 4th quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock valued at $88,000 after purchasing an additional 1,335 shares in the last quarter. Institutional investors and hedge funds own 89.49% of the company’s stock.
About Goodyear Tire & Rubber
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.