Goodyear Tire & Rubber (GT) to Release Quarterly Earnings on Friday

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) will post its quarterly earnings results before the market opens on Friday, May 6th. Analysts expect Goodyear Tire & Rubber to post earnings of $0.17 per share for the quarter.

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) last issued its quarterly earnings data on Friday, February 11th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.30. The firm had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a net margin of 4.37% and a return on equity of 12.63%. Goodyear Tire & Rubber’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. On average, analysts expect Goodyear Tire & Rubber to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of NASDAQ:GT opened at $13.45 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 1.28. Goodyear Tire & Rubber has a 1 year low of $11.64 and a 1 year high of $24.89. The firm has a fifty day moving average price of $13.84 and a 200 day moving average price of $18.49. The stock has a market capitalization of $3.79 billion, a PE ratio of 5.01 and a beta of 1.98.

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank boosted its position in shares of Goodyear Tire & Rubber by 0.5% during the fourth quarter. Amalgamated Bank now owns 186,523 shares of the company’s stock worth $3,977,000 after purchasing an additional 968 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Goodyear Tire & Rubber by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 231,579 shares of the company’s stock worth $4,937,000 after acquiring an additional 1,181 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Goodyear Tire & Rubber by 22.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,473 shares of the company’s stock worth $245,000 after acquiring an additional 2,071 shares during the period. Comerica Bank raised its holdings in shares of Goodyear Tire & Rubber by 2.3% during the fourth quarter. Comerica Bank now owns 140,151 shares of the company’s stock worth $2,987,000 after acquiring an additional 3,145 shares during the period. Finally, Vident Investment Advisory LLC increased its stake in Goodyear Tire & Rubber by 2.6% in the 4th quarter. Vident Investment Advisory LLC now owns 133,305 shares of the company’s stock valued at $2,843,000 after buying an additional 3,390 shares during the last quarter. 83.36% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on GT. Nomura Instinet upgraded shares of Goodyear Tire & Rubber from a “reduce” rating to a “neutral” rating and upped their price target for the company from $14.00 to $15.00 in a report on Monday, February 14th. Nomura raised shares of Goodyear Tire & Rubber from a “reduce” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $15.00 in a research report on Monday, February 14th. JPMorgan Chase & Co. raised shares of Goodyear Tire & Rubber from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $25.00 to $23.00 in a research report on Monday, February 14th. Zacks Investment Research lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Tuesday, January 11th. Finally, Exane BNP Paribas started coverage on shares of Goodyear Tire & Rubber in a research report on Monday, April 11th. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.86.

About Goodyear Tire & Rubber (Get Rating)

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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