Zacks Research Issues Pessimistic Forecast for GT Earnings

The Goodyear Tire & Rubber Company (NASDAQ:GT) – Research analysts at Zacks Research cut their Q4 2024 EPS estimates for Goodyear Tire & Rubber in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.44 for the quarter, down from their previous forecast of $0.55. The consensus estimate for Goodyear Tire & Rubber’s current full-year earnings is $1.08 per share. Zacks Research also issued estimates for Goodyear Tire & Rubber’s Q4 2025 earnings at $0.33 EPS, Q2 2026 earnings at $0.57 EPS and Q3 2026 earnings at $0.54 EPS.

A number of other brokerages also recently issued reports on GT. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Goodyear Tire & Rubber Trading Up 5.0 %

Shares of NASDAQ:GT opened at $10.61 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $15.24. The business has a 50 day moving average of $8.74 and a two-hundred day moving average of $9.91. The company has a market capitalization of $3.02 billion, a PE ratio of -10.12 and a beta of 1.69.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its stake in shares of Goodyear Tire & Rubber by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after buying an additional 1,475 shares in the last quarter. Arizona State Retirement System lifted its stake in Goodyear Tire & Rubber by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock worth $903,000 after purchasing an additional 1,621 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 5.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock worth $495,000 after purchasing an additional 1,925 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Goodyear Tire & Rubber by 1.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 183,837 shares of the company’s stock valued at $2,520,000 after purchasing an additional 2,028 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. increased its holdings in shares of Goodyear Tire & Rubber by 6.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 38,050 shares of the company’s stock valued at $336,000 after purchasing an additional 2,195 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

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.