Goodyear Tire & Rubber Co to Issue Quarterly Dividend of $0.14 (GT)

Goodyear Tire & Rubber Co (NASDAQ:GT) declared a quarterly dividend on Tuesday, January 16th, RTT News reports. Investors of record on Thursday, February 1st will be paid a dividend of 0.14 per share on Thursday, March 1st. This represents a $0.56 annualized dividend and a yield of 1.67%.

Shares of Goodyear Tire & Rubber (NASDAQ:GT) traded down $0.41 during mid-day trading on Tuesday, reaching $33.50. 2,851,165 shares of the company traded hands, compared to its average volume of 3,122,616. Goodyear Tire & Rubber has a 12-month low of $28.81 and a 12-month high of $37.20. The firm has a market cap of $8,250.00, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.73 and a beta of 1.53. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. sell-side analysts predict that Goodyear Tire & Rubber will post 2.88 EPS for the current year.

Several analysts have commented on GT shares. KeyCorp restated a “buy” rating and issued a $37.00 price target on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. Jefferies Group restated a “buy” rating and issued a $36.00 price target on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. BidaskClub upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Finally, Citigroup cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $36.00 in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.70.

In related news, SVP Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $32.12, for a total transaction of $240,900.00. Following the transaction, the senior vice president now directly owns 51,848 shares of the company’s stock, valued at approximately $1,665,357.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

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About Goodyear Tire & Rubber

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.

Dividend History for Goodyear Tire & Rubber (NASDAQ:GT)

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