Equities Analysts Set Expectations for The Goodyear Tire & Rubber Company’s Q4 2024 Earnings (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) – Investment analysts at Zacks Research decreased their Q4 2024 earnings per share estimates for shares of Goodyear Tire & Rubber in a research note issued to investors on Wednesday, August 21st. Zacks Research analyst R. Department now anticipates that the company will earn $0.55 per share for the quarter, down from their previous estimate of $0.62. The consensus estimate for Goodyear Tire & Rubber’s current full-year earnings is $1.20 per share. Zacks Research also issued estimates for Goodyear Tire & Rubber’s Q1 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.42 EPS, FY2025 earnings at $1.89 EPS and FY2026 earnings at $2.53 EPS.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.10. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) earnings per share.

A number of other research analysts have also recently commented on the stock. Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 target price on the stock. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Finally, HSBC lowered their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Stock Up 4.7 %

NASDAQ GT opened at $8.89 on Monday. The company has a quick ratio of 0.60, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. Goodyear Tire & Rubber has a fifty-two week low of $7.63 and a fifty-two week high of $15.24. The business has a 50 day moving average price of $10.44 and a two-hundred day moving average price of $11.75. The stock has a market cap of $2.53 billion, a PE ratio of -3.93 and a beta of 1.74.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GT. Vanguard Group Inc. increased its position in shares of Goodyear Tire & Rubber by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock worth $410,082,000 after purchasing an additional 765,529 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Goodyear Tire & Rubber by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,501,327 shares of the company’s stock worth $236,302,000 after purchasing an additional 557,038 shares in the last quarter. Wellington Management Group LLP increased its holdings in Goodyear Tire & Rubber by 48.2% in the fourth quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after buying an additional 4,870,381 shares during the last quarter. American Century Companies Inc. raised its stake in Goodyear Tire & Rubber by 16.2% during the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after buying an additional 1,013,550 shares in the last quarter. Finally, Norges Bank bought a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $66,842,000. 84.19% of the stock is currently owned by institutional investors.

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, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.