Equities research analysts predict that Goodyear Tire & Rubber Co (NASDAQ:GT) will announce $0.68 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Goodyear Tire & Rubber’s earnings, with estimates ranging from $0.49 to $0.89. Goodyear Tire & Rubber posted earnings of $0.70 per share in the same quarter last year, which indicates a negative year over year growth rate of 2.9%. The business is scheduled to issue its next quarterly earnings report on Friday, July 27th.
On average, analysts expect that Goodyear Tire & Rubber will report full year earnings of $3.58 per share for the current financial year, with EPS estimates ranging from $3.34 to $3.79. For the next financial year, analysts expect that the business will post earnings of $4.28 per share, with EPS estimates ranging from $3.79 to $4.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Goodyear Tire & Rubber.
Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, April 25th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. Goodyear Tire & Rubber had a net margin of 1.64% and a return on equity of 14.36%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was up 2.7% on a year-over-year basis.
Several large investors have recently modified their holdings of GT. Russell Investments Group Ltd. acquired a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at $35,362,000. Levin Capital Strategies L.P. acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at $40,383,000. Dimensional Fund Advisors LP boosted its stake in shares of Goodyear Tire & Rubber by 20.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,613,166 shares of the company’s stock valued at $175,778,000 after purchasing an additional 1,108,983 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Goodyear Tire & Rubber by 11.7% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,820,968 shares of the company’s stock valued at $207,881,000 after purchasing an additional 821,742 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Goodyear Tire & Rubber by 3.9% in the 1st quarter. LSV Asset Management now owns 11,110,964 shares of the company’s stock valued at $295,329,000 after purchasing an additional 420,600 shares in the last quarter. Institutional investors own 89.03% of the company’s stock.
Shares of Goodyear Tire & Rubber opened at $24.61 on Thursday, Marketbeat.com reports. The company has a quick ratio of 0.73, a current ratio of 1.31 and a debt-to-equity ratio of 1.13. Goodyear Tire & Rubber has a 1-year low of $24.40 and a 1-year high of $36.52. The firm has a market capitalization of $5.90 billion, a PE ratio of 7.89 and a beta of 1.81.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 1st will be paid a $0.14 dividend. The ex-dividend date is Monday, April 30th. This represents a $0.56 annualized dividend and a dividend yield of 2.28%. Goodyear Tire & Rubber’s dividend payout ratio is presently 17.95%.
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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