Economy

PGGM Investments Lowers Position in The Goodyear Tire & Rubber Company (GT)

PGGM Investments Lowers Position in The Goodyear Tire & Rubber Company (GT)”

The company said revenue for the quarter rose 1.8% to $3.92 billion. Los Angeles Mngmt Equity Research stated it has 0.02% of its portfolio in Goodyear Tire & Rubber Co (NASDAQ:GT).

Goodyear, which makes and sells tires under brands including Goodyear, Dunlop and Kelly, said it expected segment operating income - the combined earnings of its three business units - of about $1.5 billion in 2017, down from its previous forecast of $1.6 billion to $1.65 billion. For the next year, analysts expect that the company will post sales of $15.59 billion per share, with estimates ranging from $15.42 billion to $15.81 billion. Zacks' sales averages are an average based on a survey of analysts that follow The Goodyear Tire & Rubber.

Net income fell to $129 million, or 50 cents per share, in the quarter ended September 30, from $317 million, or $1.19 per share, a year earlier. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). Gateway Inv Advisers Lc has 0% invested in Goodyear Tire & Rubber Co (NASDAQ:GT).

Several analysts have weighed in on the company. To cut down amount of noise on price chart, shares of firm has 20 days moving average price of 1.13% from last close price of 33.67 and act as support or resistance of price limit. They set a "buy" rating and a $39.00 target price on the stock. A rating of 4 or 5 would represent a consensus Sell recommendation. The rating was downgraded by Goldman Sachs to "Neutral" on Thursday, March 30. KeyCorp reaffirmed a "buy" rating and issued a $37.00 price objective on shares of The Goodyear Tire & Rubber in a report on Thursday, October 12th. CT bought a new position in shares of The Goodyear Tire & Rubber during the 2nd quarter valued at about $101,396,000. The tire maker's stock fell $1.79, or 5.3 percent, to $31.88 in morning trading. ValuEngine lowered The Goodyear Tire & Rubber from a "strong-buy" rating to a "buy" rating in a report on Friday, July 28th.

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Shares of The Goodyear Tire & Rubber (NASDAQ GT) opened at 33.03 on Wednesday. Amalgamated State Bank stated it has 50,122 shares or 0.06% of all its holdings. The stock's beta is 1.16 whilst the stock has an average true range (ATR) of 0.61. The company's distance from 52-week high price is -7.75% and while current price is 35.12% from 52-week low price.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 1st will be issued a dividend of $0.10 per share. The stock's beta is 1.52 whilst the stock has an average true range (ATR) of 0.53. The Goodyear Tire & Rubber's dividend payout ratio is 8.77%. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The quarterly performance for the stock is -16.49%, while the half-yearly performance is -26.46%. The stock has seen a fall-off/ on its SMA50 which is now 5.20%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its holdings in The Goodyear Tire & Rubber by 24.6% in the 2nd quarter. As The Goodyear Tire & Rubber Company has a P/S, P/E and P/B estimations of 0.57, 7.39 and 1.73 separately. The Goodyear Tire & Rubber Co.'s revenue for the quarter was down 7.0% on a year-over-year basis. Vanguard Group Inc. now owns 23,666,446 shares of the company's stock valued at $607,280,000 after buying an additional 279,719 shares in the last quarter. Ltd. bought a new stake in The Goodyear Tire & Rubber in the 2nd quarter valued at approximately $21,686,000.



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