Goodyear (GT) Stock Jumps, Returning $4 Billion to Investors

Goodyear (GT) Stock Jumps, Returning $4 Billion to Investors

The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $41, however, the pessimist price target for the company is $20.

The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.13. The company also reaffirmed its previously issued 2016 financial guidance.

The stock of Cooper Tire & Rubr Company (NYSE:CTB) registered a decrease of 12.77% in short interest.

At the same time, the company announced that it will return as much as $4 billion to shareholders. The Goodyear Tire & Rubber Company P/E (price to earnings) ratio is 32.1 and Forward P/E ratio of 7.49. Top-level EPS estimate is set at $4.30 while low-level EPS estimate among analysts is focused at $4.40.

The company will host a live video webcast of the investor meeting today. The one year high of the company is $35.30 and the one year low is $24.31.

The Goodyear Tire & Rubber Company's (GT) has a Gap of -0.99% and it value Change from Open was at 0.19%.

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Costco Wholesale Corporation (NASDAQ:COST) traded 2.28 Million shares on last trading day with closing price of $152.67.

Of that, Goodyear is budgeting $1.8 billion to $1.9 billion for capital expenditures targeted at capacity expansions, $700 million to $800 million to restructurings, $3.5 billion to $4 billion for dividends and share repurchases and $800 million to $900 million to debt repayment.

The dividend, higher than its four previous quarterly payments, will be payable on December 1 for shareholders of record on November 1.

The share price of the company (NYSE:CTB) was up +2.57%, with a high of 35.25 during the day and the volume of Cooper Tire & Rubber Company shares traded was 673200.

On April 27, 2016, it posted earnings per share at $0.72 versus the consensus estimate of $0.71 (positive surprise of 1.4%). The company said future dividends "will be subject to board approval". 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.

Michaeli rates Goodyear a Buy and has a $37 a share price target. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. Year to Date performance value (YTD perf) value is -0.14%. Company gross margin stands at 13.20% whereas its return on investment (ROI) is 14.50%. The Stock now has a Weekly Volatility of 3.12% and Monthly Volatility of 2.10%.

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