Jefferies Financial Group restated their buy rating on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a research report report published on Tuesday, February 5th. Jefferies Financial Group currently has a $25.00 price target on the stock. Jefferies Financial Group also issued estimates for Goodyear Tire & Rubber’s FY2018 earnings at $2.61 EPS.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded 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 Goodyear Tire & Rubber and gave the company a hold rating in a report on Tuesday, January 29th. Longbow Research reaffirmed a hold rating on shares of Goodyear Tire & Rubber in a report on Monday, January 21st. ValuEngine raised Goodyear Tire & Rubber from a strong sell rating to a sell rating in a report on Monday, January 21st. Finally, Deutsche Bank began coverage on Goodyear Tire & Rubber in a report on Thursday, December 13th. They issued a hold rating on the stock. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $23.56.
Shares of NASDAQ GT traded down $0.03 during trading hours on Tuesday, reaching $19.75. 2,688,943 shares of the stock were exchanged, compared to its average volume of 4,759,464. The firm has a market cap of $4.49 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of -1.78 and a beta of 1.60. The company has a current ratio of 1.24, a quick ratio of 0.64 and a debt-to-equity ratio of 1.01. Goodyear Tire & Rubber has a 52 week low of $17.88 and a 52 week high of $29.19.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, February 8th. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.09). Goodyear Tire & Rubber had a return on equity of 11.17% and a net margin of 4.48%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter last year, the business earned $0.99 EPS. Goodyear Tire & Rubber’s revenue was down 4.8% on a year-over-year basis. Analysts forecast that Goodyear Tire & Rubber will post 2.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 1st were issued a dividend of $0.16 per share. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, January 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.24%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 27.59%.
In related news, Director Werner Geissler bought 35,000 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were purchased at an average cost of $18.65 per share, with a total value of $652,750.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $932,500. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at about $35,000. Captrust Financial Advisors acquired a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $43,000. CSat Investment Advisory L.P. boosted 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 during the last quarter. Fort L.P. acquired a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $85,000. Finally, Dupont Capital Management Corp boosted 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 during the last quarter. 87.28% 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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