Replacement tire shipments dropped 2% while original equipment unit volume declined by 8% year over year due to lower USA auto production. The analysts offering Earnings Estimates for the company were believing that The Goodyear Tire & Rubber Company (GT) could bring EPS of $0.87/share.
Goodyear Tire & Rubber Co. reported Friday first-quarter net earnings that fell to $166 million, or 65 cents a share, from $184 million, or 68 cents a share, in the same period a year ago.
First quarter 2017 segment operating income of $73 million was down 8 percent from past year as lower income in other tire-related businesses and unfavorable foreign currency translation offset favorable price/mix net of raw materials. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
Goodyear's first quarter 2017 sales were $3.7 billion, about even with sales in the first quarter of 2016. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company.
Goodyear Tire & Rubber Co (NASDAQ:GT) traded up 2.20% during mid-day trading on Friday, reaching $36.23. Barclays Plc invested in 0% or 41,506 shares. Retirement Sys Of Alabama invested 0.05% in Goodyear Tire & Rubber Co (NASDAQ:GT). GT reported a change of -0.53% over the last week and performed -2.63% over the last month while its year to date (YTD) performance revealed an activity trend of 15.53%.
The tire maker posted revenue of $3.7 billion in the period, which also beat Street forecasts. The stock was sold at an average price of $35.25, for a total transaction of $220,312.50. The Shareholder Yield of Cooper Tire & Rubber Company (NYSE:CTB) is 0.055601. Finally, Jefferies Group LLC downgraded Goodyear Tire & Rubber Co from a "buy" rating to a "hold" rating and set a $38.00 price objective for the company.in a research note on Friday, February 24th. That's down from $91 million during the same time in 2016. Standpoint Research downgraded the stock to "Hold" rating in Wednesday, March 1 report. Finally, Northcoast Research cut Cooper Tire & Rubber Co from a "buy" rating to a "neutral" rating in a report on Tuesday, April 18th.
On 11/16/2016 John J Holland, Director, sold 4,000 with an average share price of $37.86 per share and the total transaction amounting to $151,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The P/E ratio was recorded at 7.53.The volatility in the previous week has experienced by 1.50% and observed of 2.15% in the previous month.96.60% ownership is held by institutional investors while insiders hold ownership of 0.30%. Its the United Kingdom entity manufactures and markets passenger auto, light truck, motorcycle and racing tires and tire retread material. Virtus Investment Advisers Inc. bought a new stake in shares of Goodyear Tire & Rubber Co during the third quarter worth $219,000. FBR & Co raised their target price on shares of Cooper Tire & Rubber Co from $48.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, March 23rd.
Depending on the earnings numbers reported, The Goodyear Tire & Rubber Company (NASDAQ:GT) stock may see increased volatility following the report.
Revenues from the Europe, Middle East and Africa segment were $1.2 billion, down 1% year over year. "Goodyear has underperformed the Zacks categorized Rubber-Tires industry over the last three months". As of December 31, 2016, the Company operated nine manufacturing facilities and 20 distribution centers in 10 countries. It is positive, as 72 investors sold Community Health Systems shares while 55 reduced holdings.
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