During the company’s July 29 conference call following the release of its second-quarter 2015 financial results, Rich Kramer said the roll-out of the online sales strategy, which began in Chicago, also revealed a few problems. The company’s revenue fell to $4.17 billion from $4.66 billion. The ex-dividend date of this dividend was Thursday, May 28th. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share. 75 with revenue estimates of 4.13B. Tire volume saw a healthy increase, partly benefiting from people holding on to their cars for longer periods of time. The Company manufactures and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava and Fulda brands and various other Goodyear owned-house brands, and the private-label brands of certain customers.
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The Goodyear Tire & Rubber Company (NASDAQ:GT): According to 6 Analysts, The short term target price has been estimated at $ 30.83.The target price could deviate by a maximum of $5.78 from the forecast price. Noechel sold 20,853 shares of the stock in a transaction that occurred on Monday, June 8th.
Research firm Zacks has rated Goodyear Tire & Rubber Company (NASDAQ:GT) and has ranked it at 2, indicating that for the short term the shares are a buy. Shares were up $1.45, or 4.9 percent, to $30.97 as of 10 a.m. The sale was disclosed in a legal filing with the SEC, which is available at this link. This presents a solid upside to the current price of the equity. The total value of transaction was $693,943. The stock has a market cap of $8.36 billion and a PE ratio of 3.23. The disclosure for this sale can be found here.
– We model Goodyear to beat on both revenues and earnings based on strong organic growth in Latin America and Asia in addition to falling oil and rubber prices. The Company, together with subsidiaries and joint ventures, develops, manufactures, markets and distributes tires for a range of applications.
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Meanwhile the Europe, Middle East and Africa segment struggled as second-quarter sales dropped 19.9 percent to $1.27 billion, primarily due to unfavorable foreign currency translation. The North America segment is a supplier of tires to manufacturers of automobiles, motorcycles, trucks and aircraft. The segments Cooper Kunshan entity in the Peoples Republic of China manufactures light vehicle tires. Sales also reflect a 2 percent decrease in tire unit volume, due to lower consumer tire sales and the company’s exit from the farm tire business.
