Goodyear Tire & Rubber Co (NASDAQ:GT) announced a quarterly dividend on Tuesday, October 8th, RTT News reports. Shareholders of record on Friday, November 1st will be given a dividend of 0.16 per share on Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 4.84%.

Goodyear Tire & Rubber has increased its dividend by an average of 32.4% annually over the last three years and has raised its dividend every year for the last 5 years. Goodyear Tire & Rubber has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Goodyear Tire & Rubber to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 30.2%.

Goodyear Tire & Rubber stock opened at $13.23 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $12.85 and its two-hundred day simple moving average is $15.17. Goodyear Tire & Rubber has a 12 month low of $10.74 and a 12 month high of $23.95. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 5.70 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 26th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.06). Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm posted $0.62 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Several research firms have commented on GT. Citigroup dropped their target price on Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. BidaskClub raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Morgan Stanley set a $14.00 price target on Goodyear Tire & Rubber and gave the company a “hold” rating in a report on Wednesday, June 26th. ValuEngine raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Exane BNP Paribas assumed coverage on Goodyear Tire & Rubber in a report on Friday, August 16th. They set an “outperform” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.52.

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. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Dividend History for Goodyear Tire & Rubber (NASDAQ:GT)

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