What is Zacks Research’s Forecast for GT FY2024 Earnings?

The Goodyear Tire & Rubber Company (NASDAQ:GT) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Goodyear Tire & Rubber in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $1.10 for the year, up from their previous forecast of $1.07. The consensus estimate for Goodyear Tire & Rubber’s current full-year earnings is $1.09 per share. Zacks Research also issued estimates for Goodyear Tire & Rubber’s Q1 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.34 EPS, FY2025 earnings at $1.76 EPS, Q1 2026 earnings at $0.58 EPS and FY2026 earnings at $2.25 EPS.

GT has been the topic of a number of other research reports. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Goodyear Tire & Rubber Stock Performance

GT opened at $10.74 on Thursday. The business’s 50-day simple moving average is $8.84 and its 200 day simple moving average is $9.92. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $15.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The firm has a market capitalization of $3.06 billion, a PE ratio of -10.20 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the business earned $0.36 EPS. The company’s revenue was down 6.2% compared to the same quarter last year.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 3,921.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock worth $42,051,000 after buying an additional 4,633,368 shares during the period. AQR Capital Management LLC increased its stake in shares of Goodyear Tire & Rubber by 91.5% during the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock worth $28,203,000 after purchasing an additional 1,211,519 shares during the period. American Century Companies Inc. lifted its holdings in Goodyear Tire & Rubber by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock worth $82,376,000 after purchasing an additional 1,013,550 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at $8,492,000. Finally, Bank of Montreal Can grew its holdings in Goodyear Tire & Rubber by 323.6% in the 2nd quarter. Bank of Montreal Can now owns 976,078 shares of the company’s stock valued at $11,108,000 after buying an additional 745,636 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

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.