TheStreet cut shares of Goodyear Tire & Rubber (NASDAQ:GT) from a b rating to a c+ rating in a research note issued to investors on Thursday morning.

Several other research firms also recently commented on GT. Guggenheim downgraded Goodyear Tire & Rubber from a buy rating to a neutral rating and set a $39.00 price objective for the company. in a research note on Wednesday, November 1st. KeyCorp reissued a buy rating and issued a $37.00 price objective on shares of Goodyear Tire & Rubber in a research note on Thursday, October 12th. Zacks Investment Research raised Goodyear Tire & Rubber from a sell rating to a hold rating in a research note on Tuesday, January 9th. Jefferies Group reissued a buy rating and issued a $36.00 price objective on shares of Goodyear Tire & Rubber in a research note on Thursday, October 12th. Finally, Citigroup cut Goodyear Tire & Rubber from a buy rating to a neutral rating and dropped their target price for the company from $38.00 to $36.00 in a report on Monday, October 30th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Goodyear Tire & Rubber currently has an average rating of Buy and an average target price of $37.30.

Goodyear Tire & Rubber (NASDAQ GT) opened at $29.99 on Thursday. Goodyear Tire & Rubber has a 52 week low of $28.81 and a 52 week high of $37.20. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $7,390.00, a price-to-earnings ratio of 22.38, a P/E/G ratio of 0.67 and a beta of 1.60.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.23. Goodyear Tire & Rubber had a return on equity of 15.70% and a net margin of 2.25%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the company earned $0.95 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. equities analysts predict that Goodyear Tire & Rubber will post 3.68 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, January 31st. Goodyear Tire & Rubber’s payout ratio is currently 41.79%.

In other Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.12, for a total value of $240,900.00. Following the completion of the sale, the senior vice president now directly owns 51,848 shares in the company, valued at approximately $1,665,357.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Advisory Services Network LLC grew its holdings in shares of Goodyear Tire & Rubber by 164.5% during the 4th quarter. Advisory Services Network LLC now owns 3,832 shares of the company’s stock worth $124,000 after purchasing an additional 2,383 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Goodyear Tire & Rubber by 143.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after purchasing an additional 2,682 shares during the period. Smith Moore & CO. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth $203,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth $205,000. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth $223,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

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About Goodyear Tire & Rubber

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.

Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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