Goodyear Tire & Rubber (GT) Posts Earnings Results, Misses Expectations By $0.09 EPS

Goodyear Tire & Rubber (NASDAQ:GT) posted its earnings results on Friday. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.09), MarketWatch Earnings reports. Goodyear Tire & Rubber had a return on equity of 13.84% and a net margin of 3.11%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The company’s revenue was down 4.8% on a year-over-year basis.

Shares of GT stock opened at $18.69 on Friday. Goodyear Tire & Rubber has a 52-week low of $18.49 and a 52-week high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 8.09, a PEG ratio of -1.48 and a beta of 1.60.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.42%. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio is presently 27.59%.



A number of research firms recently weighed in on GT. ValuEngine lowered shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Friday. Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Goodyear Tire & Rubber in a report on Tuesday, February 5th. Zacks Investment Research lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 5th. Morgan Stanley set a $19.00 target price on shares of Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Tuesday, January 29th. Finally, Longbow Research reaffirmed a “hold” rating on shares of Goodyear Tire & Rubber in a research report on Monday, January 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.75.

A number of hedge funds have recently modified their holdings of GT. Advisors Asset Management Inc. grew its position in shares of Goodyear Tire & Rubber by 211.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 86,704 shares of the company’s stock valued at $269,000 after acquiring an additional 58,827 shares during the period. United Services Automobile Association grew its position in shares of Goodyear Tire & Rubber by 31.7% during the 2nd quarter. United Services Automobile Association now owns 148,227 shares of the company’s stock valued at $3,452,000 after acquiring an additional 35,648 shares during the period. Bank of Montreal Can grew its position in shares of Goodyear Tire & Rubber by 486.4% during the 3rd quarter. Bank of Montreal Can now owns 1,072,935 shares of the company’s stock valued at $25,096,000 after acquiring an additional 889,967 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Goodyear Tire & Rubber by 748.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 181,508 shares of the company’s stock valued at $5,546,000 after acquiring an additional 160,118 shares during the period. Finally, Strs Ohio grew its position in shares of Goodyear Tire & Rubber by 21.9% during the 3rd quarter. Strs Ohio now owns 278,101 shares of the company’s stock valued at $6,504,000 after acquiring an additional 50,000 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

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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. 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 for Goodyear Tire & Rubber (NASDAQ:GT)

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