GT The Goodyear Tire & Rubber Company
- Price as of: Oct 24, 04:00 PM EDT
- Rubber & plastics
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GT Daily Snapshot
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- Oct 24, 04:00 PM
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- $31.70 - $32.11
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- $24.31 - $35.30
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GT Company Profile
The Goodyear Tire & Rubber Company (GT) develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment, and various other applications. It sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands. The Goodyear Tire & Rubber Company was founded in 1898 and is headquartered in Akron, Ohio
The Goodyear Tire & Rubber Company News
January 03, 2016
Socially responsible investing (SRI) has been gaining lots of steam lately as many investors, especially younger ones, have sought to tie their moral and ethical convictions with their portfolios—and there’s nothing wrong with doing that....
February 08, 2016
With the start of February already a doozy, investors looking for a break should just go into cash and start fishing. The second week of the shortened month promises to be a volatile one as well. While the data remains light this week, what is...
February 12, 2016
Even if we haven’t hit “official” bear market numbers, this is certainly feeling like a bear market. Another week goes by and we have another big-time drop for U.S. stocks. Many of the same issues that have risen up over the last few weeks...
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Deutsche Bank Bumps Up Target for The Goodyear Tire & Rubber Company (GT)Sep 23, 2013Deutsche Bank announced on Monday that it was maintaining a "Buy" rating on the Ohio-based tire manufacturer The Goodyear Tire & Rubber Company (GT) , but went on to raise its price target for the company. Rod Lache, an analyst with the firm, noted that he sees strength in the tire sector over the coming season. Lache went on to note that because Goodyear has shifted its focus onto "higher end" tires, the company should rake in higher revenues next quarter seeing as how Deutsche Bank's current valuation model does not reflect this trend. Rod Lache reiterated a "Buy" rating on the stock and raised his price target from $23 to $29. Goodyear shares traded lower on Monday, shedding 0.47% on the day. The stock is up almost 70% YTD.Expand to read the full story
Goodyear Reinstates Dividend Payout; Authorizes $100M Share Buyback Program (GT)Sep 20, 2013The Goodyear Tire & Rubber Company (GT) kicks off an investor meeting on Friday. At the meeting the company said it will discuss its strategies and goals for the next three years, as well as its capital allocation plans. Those capital allocation plans include a new share repurchase program and the reinstatement of a quarterly dividend payout. The Akron, Ohio-based company will now pay out a quarterly dividend of 5 cents per share, which represents an annualized dividend payout of 20 cents per share. This dividend will be paid on December 1 to shareholders of record on November 1. Goodyear has not paid out a dividend since 2002. Furthermore, the company will buy back roughly $100 million shares in a program authorized by the board of directors. As well, Goodyear will discuss its earnings growth outlook. For 2013, the company said it expects operating income to be about $1.5 billion. Going forward to 2016, the company said it expects income to grow between 10% and 15%. Goodyear shares were up $1.09, or 4.90%, during pre-market trading on Friday. The stock is up 58.67% year-to-date.Expand to read the full story
The Bottom LineShares of Goodyear Tire & Rubber Company (GT) offer a dividend yield of 0.90% based on Thursday's closing price of $22.23 and the company's new annualized dividend payout of 20 cents per share. The Goodyear Tire & Rubber Company (GT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
Goodyear's Rating, Price Target, and Estimates all Raised at Goldman Sachs (GT)Nov 13, 2009The Goodyear Tire & Rubber Company (GT) caught a big upgrade on Friday from analysts at Goldman Sachs. The analyst raised its rating on GT to "Buy" from "Neutral," and also boosted its six-month price target on the stock to $19 from $17. Goodyear shares had closed at $13.74 on Thursday. Goldman noted that Goodyear shares have underperformed since the end of October, and that the sell-off creates an opportunity to build a position. The analyst also raised its earnings estimates for the company through 2012, citing better pricing. Goodyear shares rose 21 cents, or +1.5%, in premarket trading Friday. The Bottom Line Shares of GT are off 52-week highs of $18 a share. The stock has technical support in the $10-$11 price area. If the shares can firm up, we see overhead resistance around the $16 price level. We do not currently rate this non-dividend paying stock, but we do follow the company closely. The Goodyear Tire & Rubber Company (GT) does not currently pay a dividend. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story
Goodyear to Cut 5,000 More Jobs, Reports $330 Million Q4 Loss (GT)Feb 18, 2009Goodyear Tire & Rubber Co. (GT) said Wednesday that it swung to a fourth quarter loss, amid sluggish sales and rising raw materials costs. The company reported a fiscal fourth quarter net loss of $330 million, or $1.37 a share, compared with net income of $52 million, or 23 cents a share, in the year-ago period. Total revenue for the quarter declined 20% to $4.14 billion, while tire volume dropped by 19%. On average, analysts expected a fourth quarter loss of $1.02 per share on revenue of $4.39 billion. Amid the recent auto industry meltdown, sales of Goodyear tires in North America fell 15% from the year-ago period, while European sales fell even more sharply, decreasing by 26%. Goodyear disclosed further cost-cutting plans during the report, saying it planned to reduce costs by $700 million in 2009. Initiatives designed to accomplish this include cutting 5,000 additional jobs, freezing salaries, cutting inventory levels, reducing capital expenditures, and pursuing asset sales. Goodyear stock has fallen over 70% since early September. The Bottom Line Shares of GT are way off of May 2007 highs of $35 a share. The stock has all-time technical support at $4 a share. If the shares can rebound, we see overhead resistance around the $10-11 price levels. We do not currently rate this non-dividend paying stock, but we do follow the headlines of this well-known tire company. Goodyear Tire & Rubber Co. (GT) does not currently pay a dividend. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story