ValuEngine upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a strong sell rating to a sell rating in a research report report published on Monday, January 21st.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Goodyear Tire & Rubber from a buy rating to a hold rating in a report on Thursday, January 17th. Argus cut their price objective on shares of Goodyear Tire & Rubber from $30.00 to $26.00 and set a buy rating for the company in a report on Wednesday, October 31st. BidaskClub raised shares of Goodyear Tire & Rubber from a strong sell rating to a sell rating in a research note on Tuesday, October 30th. Jefferies Financial Group set a $26.00 target price on shares of Goodyear Tire & Rubber and gave the stock a buy rating in a research note on Tuesday, December 4th. Finally, Wolfe Research initiated coverage on shares of Goodyear Tire & Rubber in a research note on Tuesday, October 2nd. They set an outperform rating for the company. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Goodyear Tire & Rubber currently has a consensus rating of Hold and a consensus price target of $23.56.
NASDAQ GT traded up $0.33 on Monday, reaching $18.79. 4,935,861 shares of the company’s stock traded hands, compared to its average volume of 5,768,865. The company has a market capitalization of $4.36 billion, a PE ratio of 8.10, a P/E/G ratio of -1.52 and a beta of 1.60. Goodyear Tire & Rubber has a fifty-two week low of $17.88 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 0.76.
Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, February 8th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.09). Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the firm posted $0.99 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. Research analysts expect that Goodyear Tire & Rubber will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, January 31st. This is a boost from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.
In other Goodyear Tire & Rubber news, Director Werner Geissler acquired 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was bought at an average price of $18.65 per share, with a total value of $652,750.00. Following the purchase, the director now owns 50,000 shares in the company, valued at $932,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GT. First Mercantile Trust Co. acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at about $35,000. Captrust Financial Advisors acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at about $43,000. CSat Investment Advisory L.P. boosted its holdings in Goodyear Tire & Rubber by 58.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock valued at $50,000 after purchasing an additional 914 shares during the last quarter. Fort L.P. acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at about $85,000. Finally, Dupont Capital Management Corp boosted its holdings in Goodyear Tire & Rubber by 44.8% in the 4th quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock valued at $88,000 after purchasing an additional 1,335 shares during the last quarter. 89.49% of the stock is owned by institutional investors.
Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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