Equities Analysts Set Expectations for GT FY2024 Earnings

The Goodyear Tire & Rubber Company (NASDAQ:GT) – Equities research analysts at Zacks Research increased their FY2024 EPS estimates for shares of Goodyear Tire & Rubber in a research note issued on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $1.10 for the year, up from their prior forecast of $1.07. 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 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.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The company had revenue of $4.82 billion for 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 quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share.

Other analysts have also issued research reports about the company. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Goodyear Tire & Rubber Stock Up 5.0 %

GT stock opened at $10.61 on Thursday. The firm’s 50-day moving average is $8.74 and its two-hundred day moving average is $9.91. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -10.20 and a beta of 1.69. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $15.24.

Hedge Funds Weigh In On Goodyear Tire & Rubber

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of Goodyear Tire & Rubber by 11.0% in the 3rd quarter. Franklin Resources Inc. now owns 135,131 shares of the company’s stock valued at $1,139,000 after purchasing an additional 13,349 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Goodyear Tire & Rubber in the third quarter worth about $45,000. Geode Capital Management LLC increased its position in shares of Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after acquiring an additional 86,227 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Goodyear Tire & Rubber in the third quarter worth approximately $393,000. Finally, Barclays PLC raised its holdings in shares of Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after acquiring an additional 598,330 shares during the period. 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.