The Goodyear Tire & Rubber Company (NASDAQ:GT) shares traded -3.06% lower at $14.25 on Wall Street last session.
In accordance with the data, 9 analysts cover The Goodyear Tire & Rubber Company (NASDAQ:GT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $19.00 and a low of $10.00, we find $13.00. Given the previous closing price of $14.70, this indicates a potential downside of -11.56 percent. GT stock price is now 28.51% away from the 50-day moving average and 22.99% away from the 200-day moving average. The market capitalization of the company currently stands at $3.92B.
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It has been rated a hold by 6 analysts and a buy by 3. Brokers who have rated the stock have averaged $14.43 as their price target over the next twelve months.
With the price target maintained at $17, Nomura recently Downgraded its rating from Buy to Neutral for The Goodyear Tire & Rubber Company (NASDAQ: GT). On May 15, 2023, Exane BNP Paribas Upgraded its previous ‘Underperform’ rating to ‘Neutral’ on the stock keeping its target price maintained at $13, while ‘Argus’ rates the stock as ‘Hold’.
Insiders disposed of 221,537 shares of company stock worth roughly $3.16 million over the past 1 year. A total of 0.49% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GT stock. A new stake in The Goodyear Tire & Rubber Company shares was purchased by TOWLE & CO during the first quarter worth $29,734,000. TEZA CAPITAL MANAGEMENT LLC invested $2,285,000 in shares of GT during the first quarter. In the first quarter, MUTUAL ADVISORS, LLC acquired a new stake in The Goodyear Tire & Rubber Company valued at approximately $1,775,000. ACADIAN ASSET MANAGEMENT LLC acquired a new stake in GT for approximately $1,713,000. MARSHALL WACE, LLP purchased a new stake in GT valued at around $1,106,000 in the second quarter. In total, there are 507 active investors with 82.20% ownership of the company’s stock.
The Goodyear Tire & Rubber Company (NASDAQ: GT) opened at $14.60 on Thursday. During the past 12 months, The Goodyear Tire & Rubber Company has had a low of $9.66 and a high of $15.69. As of last week, the company has a debt-to-equity ratio of 1.72, a current ratio of 1.30, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $12.18B, which is based on a 1017.86 price-to-earnings ratio, a 110.16 price-to-earnings-growth ratio, and a beta of 1.76. The fifty day moving average price for GT is $11.14 and a two-hundred day moving average price translates $11.60 for the stock.
The latest earnings results from The Goodyear Tire & Rubber Company (NASDAQ: GT) was released for Mar, 2023. According to the Auto Parts Company, earnings per share came in at -$0.29, beating analysts’ expectations of -$0.3 by 0.01. This compares to $0.33 EPS in the same period last year. The net profit margin was 0.00% and return on equity was 0.10% for GT. The company reported revenue of $4.94 billion for the quarter, compared to $4.91 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.67 percent. For the current quarter, analysts expect GT to generate $5.31B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/02/2020. Investors who held shares on 02/03/2020 were paid a $0.16 dividend.
The Goodyear Tire & Rubber Company(GT) Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands. The company also provides retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; sells chemical products; and provides automotive and commercial repair services, and miscellaneous other products and services. In addition, it operates approximately 950 retail outlets, which offer products for retail sale, and provides repair and other services. The company sells its products worldwide through a network of independent dealers, regional distributors, retail outlets, and retailers. The Goodyear Tire & Rubber Company was incorporated in 1898 and is headquartered in Akron, Ohio.
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