The Goodyear Tire & Rubber Company (GT) Receives $37.78 Consensus PT from Analysts
Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given a consensus rating of “Hold” by the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $37.78.
A number of equities research analysts have recently issued reports on GT shares. ValuEngine raised shares of The Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Jefferies Group reissued a “buy” rating and set a $36.00 price target on shares of The Goodyear Tire & Rubber in a research report on Thursday, October 12th. Guggenheim cut shares of The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research report on Wednesday, November 1st. BidaskClub raised shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Finally, J P Morgan Chase & Co lowered their price target on shares of The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th.
Shares of The Goodyear Tire & Rubber (GT) traded down $0.86 during midday trading on Friday, reaching $31.36. 3,176,054 shares of the company traded hands, compared to its average volume of 2,906,049. The stock has a market cap of $7,899.71, a price-to-earnings ratio of 10.35, a PEG ratio of 0.90 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.37. The Goodyear Tire & Rubber has a 12 month low of $28.81 and a 12 month high of $37.20.
The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. research analysts predict that The Goodyear Tire & Rubber will post 2.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 1st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, October 31st. The Goodyear Tire & Rubber’s dividend payout ratio is presently 14.47%.
In related news, SVP Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $32.12, for a total transaction of $240,900.00. Following the sale, the senior vice president now directly owns 51,848 shares in the company, valued at $1,665,357.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 30,000 shares of company stock worth $962,625 over the last 90 days. Insiders own 1.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. First Quadrant L P CA purchased a new position in The Goodyear Tire & Rubber in the second quarter valued at approximately $130,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of The Goodyear Tire & Rubber by 143.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock valued at $152,000 after acquiring an additional 2,682 shares during the period. Schroder Investment Management Group acquired a new stake in shares of The Goodyear Tire & Rubber in the second quarter valued at approximately $160,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of The Goodyear Tire & Rubber in the third quarter valued at approximately $205,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of The Goodyear Tire & Rubber by 8.4% in the second quarter. Pacer Advisors Inc. now owns 5,883 shares of the company’s stock valued at $206,000 after acquiring an additional 457 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.
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The Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.
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