Goodyear Tire & Rubber stock soars

  • Follow Business

Goodyear Tire & Rubber is up 64 percent this year, placing it among the top 25 performers in the Standard & Poor’s 500 index. That’s more than triple the almost 19 percent rise of the broader market.

Shareholders are also encouraged by the company’s decision to reinstate its dividend after more than a decade. In the fourth quarter it will pay out 5 cents per share, its first dividend since December 2002. That produces a modest yield; just 0.9 percent compared with the average 2 percent yield of the S&P 500.

“Goodyear’s outlook hasn’t looked this sound in over a decade,” financial analyst Itay Michaeli of Citi Investment Research wrote in a recent note to clients. He gives Goodyear a “Buy” rating with a one-year price target of $28. Even so, he couples that rating with a “High Risk” designation, citing several factors, including the amount of debt on the company’s balance sheet.


You do not have a PDF plugin installed for this browser. Please click here to download the PDF file.

View the Graphic

Top headlines

Grad rates show improvement by local school systems

Graduation rates in both Richmond and Columbia counties followed the statewide trend of slow and steady increases in 2014, although progress in individual schools varied greatly.
Search Augusta jobs