Goodyear Tire & Rubber Co (GT) Expected to Post Quarterly Sales of $3.91 Billion

Brokerages expect Goodyear Tire & Rubber Co (NASDAQ:GT) to post sales of $3.91 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Goodyear Tire & Rubber’s earnings. The lowest sales estimate is $3.87 billion and the highest is $3.99 billion. Goodyear Tire & Rubber posted sales of $3.74 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The company is scheduled to issue its next earnings report on Wednesday, February 14th.

According to Zacks, analysts expect that Goodyear Tire & Rubber will report full-year sales of $3.91 billion for the current financial year, with estimates ranging from $15.19 billion to $15.30 billion. For the next fiscal year, analysts expect that the firm will post sales of $15.39 billion per share, with estimates ranging from $15.08 billion to $15.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Goodyear Tire & Rubber.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the firm posted $1.17 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year.

Several analysts have recently weighed in on the company. BidaskClub raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. KeyCorp reissued a “buy” rating and issued a $37.00 target price on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. Jefferies Group reissued a “buy” rating and issued a $36.00 target price on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. Zacks Investment Research raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a report on Monday, October 9th. Finally, JPMorgan Chase & Co. reduced their target price on Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $37.70.

Goodyear Tire & Rubber (NASDAQ:GT) traded down $0.44 during trading on Friday, hitting $32.31. The stock had a trading volume of 1,620,020 shares, compared to its average volume of 2,379,847. Goodyear Tire & Rubber has a fifty-two week low of $28.81 and a fifty-two week high of $37.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. The stock has a market cap of $7,958.83, a P/E ratio of 8.35, a P/E/G ratio of 0.90 and a beta of 1.52.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 annualized dividend and a yield of 1.73%. Goodyear Tire & Rubber’s dividend payout ratio is currently 14.47%.

In other Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $30.53, for a total transaction of $228,975.00. Following the completion of the sale, the senior vice president now directly owns 59,348 shares of the company’s stock, valued at approximately $1,811,894.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 22,500 shares of company stock valued at $719,325. 1.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of GT. Sound Shore Management Inc. CT raised its stake in shares of Goodyear Tire & Rubber by 38.7% during the 3rd quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock worth $133,796,000 after buying an additional 1,123,573 shares in the last quarter. LSV Asset Management raised its stake in shares of Goodyear Tire & Rubber by 6.6% during the 2nd quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock worth $357,644,000 after buying an additional 634,919 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Goodyear Tire & Rubber by 94.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,296,130 shares of the company’s stock worth $45,313,000 after buying an additional 628,221 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $15,827,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Goodyear Tire & Rubber by 10.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock worth $151,903,000 after buying an additional 414,651 shares in the last quarter. 94.64% of the stock is owned by hedge funds and other institutional investors.

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Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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