High court sides with Goodyear in sanctions dispute

Carla Harmon
April 19, 2017

Chevy Chase Trust Holdings Inc.'s holdings in Goodyear Tire & Rubber Co were worth $7,810,000 as of its most recent filing with the SEC.

CTB has been the topic of a number of recent research reports. Creative Planning raised its stake in shares of Cooper Tire & Rubber Co by 5.3% in the first quarter. Emerald Acquisition Ltd. raised its position in Cooper Tire & Rubber Co by 90.3% in the third quarter. Ardsley Advisory Partners bought a new position in shares of Goodyear Tire & Rubber Co during the third quarter worth $226,000. Finally, Alyeska Investment Group L.P. increased its position in shares of Goodyear Tire & Rubber Co by 25.6% in the fourth quarter.

It's important to get a feel for how any stock is actually valued on the market based on its core numbers.

In a unanimous 13-page opinion, Justice Elena Kagan reversed a $2.7 million fee award against the Goodyear Tire & Rubber Co. finding that sanctions in civil cases "must be compensatory rather than punitive in nature". The stock is trading $35.32 its 50-day moving average by 0.38%. The company has a market cap of $2.25 billion and a P/E ratio of 9.48.

Cooper Tire & Rubber Co (NYSE:CTB) last posted its quarterly earnings results on Friday, February 17th.

Analysts expect Prologis Inc (NYSE:PLD) to report $0.63 EPS on April, 18.They anticipate $0.02 EPS change or 3.28% from last quarter's $0.61 EPS. Pub Employees Retirement Association Of Colorado owns 0% invested in Cooper Tire & Rubber Co (NYSE:CTB) for 7,569 shares. The company earned $3.70 billion during the quarter, compared to analyst estimates of $3.87 billion.

In the liquidity ratio analysis; quick ratio for most recent quarter was 0.60 while current ratio for time period was 1.20. The firm's quarterly revenue was down 7.9% compared to the same quarter previous year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Thursday, March 2nd were issued a $0.105 dividend. The ex-dividend date is Thursday, April 27th. The stock declined 1.17% or $0.41 reaching $34.53 on the news.

On 2/19/2016 Cooper Tire & Rubber Co announced a quarterly dividend of $0.11 1.11% with an ex dividend date of 2/29/2016 which will be payable on 3/31/2016.

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The share of The Goodyear Tire & Rubber Company (GT) now has a value of $34.94 while the company's 52 week low is at $24.10, the shares dropped to the 52 week low on 07/06/16. Finally, Northcoast Research lowered shares of Cooper Tire & Rubber Co from a "buy" rating to a "neutral" rating in a research note on Tuesday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Cooper Tire & Rubber Company presently has an average rating of "Hold" and a consensus price target of $39.30.

In other Goodyear Tire & Rubber Co news, SVP Richard J. Noechel sold 4,721 shares of the company's stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $40.37, for a total value of $566,835.17. Advisor Group Inc. now owns 3,550 shares of the company's stock worth $135,000 after buying an additional 1,568 shares in the last quarter.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of Goodyear Tire & Rubber Co stock in a transaction on Monday, April 10th. The disclosure for this sale can be found here.

Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires.

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