What is Zacks Research’s Estimate for GT FY2024 Earnings?

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

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

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $10.61 on Thursday. The company has a market capitalization of $3.02 billion, a P/E ratio of -10.20 and a beta of 1.69. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $15.24. The firm’s 50 day simple moving average is $8.79 and its two-hundred day simple moving average is $9.91. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65.

Goodyear Tire & Rubber (NASDAQ:GT) last posted 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 firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in Goodyear Tire & Rubber by 3,921.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after buying an additional 4,633,368 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Goodyear Tire & Rubber by 91.5% in the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock valued at $28,203,000 after purchasing an additional 1,211,519 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Goodyear Tire & Rubber by 16.2% in the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after purchasing an additional 1,013,550 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Goodyear Tire & Rubber in the second quarter worth $8,492,000. Finally, Bank of Montreal Can raised its stake in Goodyear Tire & Rubber by 323.6% during the second quarter. Bank of Montreal Can now owns 976,078 shares of the company’s stock valued at $11,108,000 after purchasing an additional 745,636 shares in the last quarter. Institutional investors 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.