Goodyear Tire & Rubber Co (NASDAQ:GT), after opening at $35.16, closed at $35.45 by scoring -1.01%.
Revenues in the reported quarter inched up 0.2% year over year to $3.7 billion.
The combined effects of price increase and weak demand impacted Goodyear's first quarter, which saw operating and net income fall on relatively unchanged sales.
First quarter 2017 segment operating income of $73 million was down 8 percent from previous year as lower income in other tire-related businesses and unfavorable foreign currency translation offset favorable price/mix net of raw materials. During the same quarter past year, the firm posted $0.72 earnings per share. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share. (:XXII)'s shares may have a significant upside to the consensus target of 3.50, but how has it been performing relative to the market? The company earned $643.03 million during the quarter, compared to analysts' expectations of $687.92 million.
Equity Research firms now have a positive stance on shares of The Goodyear Tire & Rubber Company (NASDAQ:GT). Hedge funds and other institutional investors own 91.58% of the company's stock. The ex-dividend date of this dividend was Tuesday, February 28th. Capital expenditures in the first quarter were $45 million compared with $36 million in the same period a year ago. Equities research analysts predict that Goodyear Tire & Rubber Co will post $3.96 EPS for the current year. It has been assigned a low target price of $17 and a high target price of $25. Neuberger Berman Gp Limited holds 0.17% or 1.33 million shares in its portfolio.
With these kinds of figures it is worthy to note that The Goodyear Tire & Rubber Company (GT) has been put into a neutral territory, but there are few other spots to consider.
ROI deals with the invested cash in the company and the return the investor realize on that money based on the net profit of the business.
Since November 16, 2016, it had 0 buys, and 2 insider sales for $718,319 activity. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. Jefferies Initiates Coverage On the stock to Buy on 11/29/16 by stationing a price target of $36.5. According to Thomson Reuters, sell-side analysts are predicting a consensus target price of $79.93 on company stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The average volume stands around 2.97 million shares. Janney Montgomery Scott Ltd Liability Company has invested 0% in Goodyear Tire & Rubber Co (NASDAQ:GT). (:XXII) shares are moving 2.19% trading at $1.40 today. Sales of $2.0 billion were flat as higher chemical and tire pricing as well as favorable foreign currency translation were partially offset by lower tire unit volume. Goodyear Tire & Rubber Co has a 12 month low of $24.31 and a 12 month high of $37.20. Finally, Suntrust Banks Inc. bought a new stake in shares of Goodyear Tire & Rubber Co during the third quarter worth $222,000.
Revenues from the Europe, Middle East and Africa segment were $1.2 billion, down 1% year over year. Original equipment unit volume dropped 9% while replacement tire shipments rose 7% year over year. Mn Services Vermogensbeheer B.V. raised its stake in Goodyear Tire & Rubber Co by 4.3% in the first quarter. The Firm operates through three divisions. Analysts have a mean recommendation of 2.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Investors of record on Thursday, March 2nd were issued a dividend of $0.105 per share.