Goodyear: A Bargain In Plain Sight
Brian Grosso • 13 Comments
Brian Grosso • 13 Comments
Goodyear Tire: Still Room To Run
Bleecker Street Research
Bleecker Street Research
Mon, Feb. 8, 5:30 PM
Wed, Jan. 20, 3:40 PM
- Auto suppliers Federal-Mogul Holdings (FDML +11.1%), Motorcar Parts of America (MPAA +6.2%), Gentherm (THRM +5%), Meritor (MTOR +4.3%), and Stonebridge (SRI +2.8%) are all showing outsized gains on the day, despite global stock market declines. The sector has been off to a volatile start this year.
- Tire stocks Goodyear Tire & Rubber (GT +2.2%) and Cooper Tire & Rubber (CTB +0.7%) are also in solid shape today.
- Though some forecasts call for automobile sales growth to slow in China and the U.S. this year, strong demand from Europe is making up for some of the slack.
- Previously: European automobile market stays on promising track (Jan. 18 2016)
Fri, Jan. 15, 4:52 PM
- Goodyear Tire & Rubber (NASDAQ:GT) declares $0.07/share quarterly dividend, in line with previous.
- Forward yield 1.02%
- Payable March 1; for shareholders of record Feb. 1; ex-div Jan. 28.
Dec. 1, 2015, 10:23 AM
- Goodyear Tire & Rubber (GT +0.1%) announces it will combine its North America and Latin America businesses into one division.
- The new Americas division will become effective on January 1, 2016.
- Stephen McClellan will head the Americas business.
Oct. 29, 2015, 8:16 AM
- Goodyear Tire & Rubber (NASDAQ:GT): Q3 EPS of $0.99 beats by $0.02.
- Revenue of $4.18B (-10.3% Y/Y) misses by $40M.
Oct. 28, 2015, 5:30 PM
- ABC, ABMD, AET, ALKS, ALLE, ALLT, ALLY, ALU, ALXN, AMT, APD, AVT, AVY, AWI, BANC, BBW, BC, BG, BLL, BWA, BWEN, BXLT, CCE, CHTR, CLF, CME, CMS, COP, CRI, CRR, CSH, CVE, CVI, CVRR, DBD, DFT, DIN, DLPH, EME, EPD, EXAS, EXLS, FCN, FIG, FMS, GCI, GG, GLOP, GLPI, GNC, GOV, GT, GTLS, GTXI, HAR, HEES, HST, HTWR, I, IDA, IMS, INGR, IQNT, IRDM, IVZ, JAH, JCI, KEM, KERX, LDOS, LKQ, LLL, LPLA, MA, MCK, MD, MDP, MDXG, MGM, MMYT, MO, MPC, MPLX, MSCI, MTH, MTRN, MWW, NEO, NICE, NOK, NTCT, NVO, NYT, OAK, ODFL, OFC, OSK, PAG, PBI, PES, PF, PNK, POT, PPL, PX, RDS.A, RFP, RGS, RTIX, RYAM, SABR, SAN, SC, SCG, SHOO, SHW, SMP, SNE, SNMX, STM, TDY, TEVA, TFX, THRM, TPX, TWC, UAN, UBSI, UPL, VA, VICL, WRLD, WST, WWE, XEL, XYL, ZBH
Oct. 26, 2015, 9:04 AM
- Auto parts stocks (AZO, AAP, ORLY, PRTS, GPC) are on watch after Bridgestone (OTCPK:BRDCY) acquires Pep Boys (NYSE:PBY) for a healthy premium.
- Analysts have already been pushing the consolidation benefits of retail chains within the sector. The M&A move by Bridgestone will also be of interest to tire giants Cooper Tire & Rubber (NYSE:CTB) and Goodyear Tire & Rubber (NASDAQ:GT).
- Pep-Boys trades just short of the takeout price of $15, up 22.82% to $14.91.
- Previously: Bridgestone buying Pep Boys for $835M (Oct. 26 2015)
Oct. 6, 2015, 4:33 PM
- Goodyear Tire & Rubber (NASDAQ:GT) declares $0.07/share quarterly dividend, 16.7% increase from prior dividend of $0.06.
- Forward yield 0.92%
- Payable Dec. 1; for shareholders of record Nov. 2; ex-div Oct. 29.
Oct. 1, 2015, 6:11 PM
- Goodyear Tire (NASDAQ:GT) says it is ending its 16-year global alliance with Sumitomo Rubber, clearing the way for GT to finally begin selling its namesake brand in Japan.
- GT retains exclusive rights to sell Dunlop tires in the replacement market and to non-Japanese auto manufacturers in the U.S., Canada and Mexico, as well as exclusive rights to sell Dunlop tires in replacement and original equipment markets in European countries where the former joint venture exclusively served the market; GT also regains exclusive rights to serve Japanese markets with Goodyear-brand tires.
- The agreement resolves pending arbitration filed in early 2014.
Sep. 21, 2015, 6:52 PM
- Wynn Resorts (NASDAQ:WYNN), Viacom (NASDAQ:VIAB) and Dollar Tree (NASDAQ:DLTR) headline Goldman Sachs' list of 25 companies that could post outsized returns even as more and more stocks are moving in lock-step.
- Goldman’s picks come as return dispersion - the performance gap among stocks - has sunk lately amid turmoil in China and concerns about when the Fed will raise interest rates that has pushed stock correlations to their highest level since 2011.
- Given the low-dispersion setting, Goldman says investors should focus on these 25 stocks that have high “dispersion scores” and 15%-plus upside to the firm’s targets: WYNN, VIAB, DLTR, UAL, LUV, URBN, CBG, JNPR, MPC, NFLX, HBI, SIG, CRM, CERN, VLO, KMX, ENDP, CTSH, ISRG, ETFC, TSN, CCE, CI, REGN, GT
Sep. 16, 2015, 7:03 PM
- J.P. Morgan analysts warn that companies with large amounts of floating-rate debt - including Chesapeake Energy, Freeport McMoRan, Ford and GE - could be at risk if the Fed decides to raise interest rates.
- Companies with variable/floating-rate debt suffer a more immediate impact by a rate hike than companies with fixed-rate debt, the analysts say; variable-rate coupons typically reset quarterly, meaning that changes in the base rate flow through almost immediately to variable-rate borrowers, while fixed-rate borrowers do not see such an impact until they refinance or issue new debt.
- JPM lists 25 companies - not including financials - that have the “highest variable-rate debt as a percentage of market cap": FMC, NRG, FCX, AES, CVC, LVLT, PVH, CHK, FE, DVA, THC, OI, CNX, F, HCA, FOSL, RCL, JOY, GE, ADS, ALLE, HBI, GT, DNB, AN
Aug. 21, 2015, 8:36 AM
- Goodyear Tire & Rubber (NASDAQ:GT) names Chris Delaney to be the president-elect of its Asia Pacific business unit.
- Delaney is the former CEO of Goodman Fielder Limited which is the largest food company in Australia and New Zealand.
- Sales in the company's Asia Pacific segment fell 9.6% in Q2, although tire unit volume was moderately higher.
Jul. 29, 2015, 8:16 AM
- Goodyear Tire & Rubber (NASDAQ:GT): Q2 EPS of $0.84 beats by $0.09.
- Revenue of $4.2B (-9.9% Y/Y) beats by $70M.
Jul. 28, 2015, 5:30 PM
- ACCO, ADT, AMED, AMT, ANTM, APO, AVY, BAH, BDC, BEN, BGCP, BOKF, CARB, CBG, CDK, CFR, CHH, CLF, CRI, DATA, DIN, DORM, DXYN, ESIO, ETN, EVER, EXC, FDML, FLY, GCI, GD, GEL, GIB, GRA, GRMN, GT, GTI, HCBK, HES, HLT, HSIC, HSP, HTA, HUM, HUN, IP, IRT, JAH, JLL, LFUS, LVLT, MA, MDCO, MO, MTH, MTOR, MVIS, NOC, PAG, PCG, PX, Q, RES, ROK, ROL, SAIA, SLAB, SNCR, SO, SONS, SPIL, SPR, SPW, SSE, STNG, STRA, STRZA, TGI, TRI, UBSI, UMC, VNTV, WEC, WEX, WILN, WOOF
Jul. 15, 2015, 4:40 PM
- Goodyear Tire & Rubber (NASDAQ:GT) declares $0.06/share quarterly dividend, in line with previous.
- Forward yield 0.81%
- Payable Sept. 1; for shareholders of record July 31; ex-div July 29.
Jun. 29, 2015, 10:38 AM
- Select auto supplier stocks are feeling the sharpest pinch in the consumer goods sector from the developments in Greece.
- Westport Innovations (WPRT -4.6%), Delphi Automotive (DLPH -3.3%), and Tower International (TOWR -1.8%) are all trading weaker than broad averages.
- Goodyear Tire & Rubber (GT -3.4%) and Cooper Tire & Rubber (CTB -1.8%) are also feeling pressure.
Goodyear Tire & Rubber Co. is engaged in developing, manufacturing, distributing and selling tires and related products and services worldwide. It manufactures and markets numerous lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and... More
Sector: Consumer Goods
Industry: Rubber & Plastics
Country: United States
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