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You are here: Home1 / News2 / Career Tracks3 / JP Morgan increases Goodyear 2012 EPS, drops 2011 figure

JP Morgan increases Goodyear 2012 EPS, drops 2011 figure

Date: 14th February 2011 Author: Tyrepress Editors Comments: 0

Analysts at JP Morgan have increased their estimates for Goodyear Tire & Rubber's 2012 earning per share (EPS) and reduced 2011’s figure – mainly due to the impact of raw material prices. To reflect the impact of higher natural rubber prices, JP Morgan lowered its 2011 earnings per share projection to $0.50. However, 2012 has been revised up to $2.25. The estimates assume global volume growth of 4 per cent in 2011 and 2012 and a $374 million negative price/mix against raw material costs spread out in 2011.

According to a recent note, JP Morgan said the good news is that industry pricing remains solid, and end-markets, particular the high-margin commercial truck segment, are finally seeing a powerful recovery.

JP Morgan currently holds a $17 price target and an overweight rating on Goodyear shares.

Related news:

  • Kramer praises loss-making Goodyear for ‘improvement across all businesses’

  • Goodyear to close Union City plant by year’s end

  • Bailey, Völmicke join new Goodyear Dunlop communications team

 

Related news:

  1. Japan’s Tyre-makers Stock Gains on Increased Citi Growth Forecast
  2. Cooper Tire Shares Fall, But Analysts Say Market Underestimates Firm’s Potential
  3. Goodyear amends European credit facility, closes notes offering
  4. Goodyear to announce 2Q 2011 financial results
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Related Tags

Career Tracks, Dunlop, Goodyear, Goodyear Dunlop, pricing, rubber, shares

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