Goodyear Tire 3Q Profit Falls On Higher Costs

Goodyear Tire & Rubber Co (GT) EPS Estimated At $0.66

Janus Henderson Group PLC's holdings in The Goodyear Tire & Rubber were worth $1,811,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 92.87% of the company's stock. Adage Capital Partners GP L.L.C. increased its stake in The Goodyear Tire & Rubber 6.8% in the first quarter.

The Relative Volume of the company is 1.42 and Average Volume (3 months) is 3 million.

Net income fell to $129 million, or 50 cents per share, in the quarter ended September 30, from $317 million, or $1.19 per share, a year earlier. First Quadrant L P CA purchased a new stake in The Goodyear Tire & Rubber during the 2nd quarter worth approximately $130,000. When there are more buyers than sellers, the stock price will rise because of the increased demand. Often, a boost in the volume of a stock is a harbinger of a price jump, either up or down.

Since May 9, 2017, it had 0 insider buys, and 2 selling transactions for $441,332 activity. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Advisory Services Network LLC now owns 4,751 shares of the company's stock worth $172,000 after buying an additional 304 shares during the period.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, October 27th.

Higher raw material costs, a slowdown in auto manufacturing and a slowing tire replacement cycle are all hurting the tiremaker, despite the fact that its per-tire revenues are up about 5% this year, the company reported. The company's 50 day moving average price is $36.27 and its 200-day moving average price is $36.73. The firm has a market capitalization of $8.10 billion, a PE ratio of 7.01 and a beta of 1.56.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, October 27th. The company's quarterly EPS surprised Wall Street by as much as 0% to the downside in its last earnings announcement, so investors should note this tendency when assessing consensus estimates. It now expects $1.5 billion, down from a prior outlook for $1.6 billion to $1.65 billion. Its weekly and monthly volatility is 1.57%, 1.56% respectively. Goodyear will pay a quarterly dividend of 14 cents per share - up from 10 cents - on December 1 to shareholders of record November 1.

Analysts are also projecting an Average Revenue Estimate for The Goodyear Tire & Rubber Company as $3.92 Million in the Current Quarter.

The company's board also authorized a dividend increase of 40 percent. (NASDAQ:PDCE) scoring 0.74% to reach at $46.25 during previous trading session.

The Standard & Poor's 500 index rose 18 points, or 0.7 percent, to 2,579 as of 1:30 p.m. The Goodyear Tire & Rubber's dividend payout ratio (DPR) is now 8.77%. On an adjusted basis, Goodyear earned 70 cents a share. ValuEngine lowered shares of The Goodyear Tire & Rubber from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 28th.

The price target set for the stock is $37.88 and this sets up an interesting set of potential movement for the stock. BidaskClub upgraded shares of Cooper Tire & Rubber from a "sell" rating to a "hold" rating in a report on Wednesday, July 19th. On Thursday, January 14 the stock rating was upgraded by Standpoint Research to "Buy". If you are accessing this article on another publication, it was illegally stolen and reposted in violation of USA and global trademark and copyright laws. Florida-based Wilen Invest Management has invested 9.23% in Goodyear Tire & Rubber Co (NASDAQ:GT).

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company's Americas business comprises businesses of North America and Latin America. 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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