In yesterday’s Wall Street session, Goodyear Tire & Rubber Co. (NASDAQ:GT) shares traded at $15.00, up 3.23% from the previous session.
GT stock price is now 15.10% away from the 50-day moving average and 17.45% away from the 200-day moving average. The market capitalization of the company currently stands at $4.25B.
With the price target of $16.80, HSBC Securities recently initiated with Buy rating for Goodyear Tire & Rubber Co. (NASDAQ: GT).
In other news, WELLS DARREN R, EVP & Chief Admin. Officer sold 12,985 shares of the company’s stock on Dec 11. The stock was sold for $184,291 at an average price of $14.19. Upon completion of the transaction, the EVP & Chief Admin. Officer now directly owns 98,764 shares in the company, valued at $1.48 million. Insiders disposed of 224,919 shares of company stock worth roughly $3.37 million over the past 1 year. A total of 0.56% of the company’s stock is owned by insiders.
During the past 12 months, Goodyear Tire & Rubber Co. has had a low of $9.66 and a high of $16.50. As of last week, the company has a debt-to-equity ratio of 1.94, a current ratio of 1.30, and a quick ratio of 0.70. The fifty day moving average price for GT is $13.03 and a two-hundred day moving average price translates $12.77 for the stock.
The latest earnings results from Goodyear Tire & Rubber Co. (NASDAQ: GT) was released for Sep, 2023. According to the Auto Parts Company, earnings per share came in at $0.36, beating analysts’ expectations of $0.19 by 0.17. This compares to $0.17 EPS in the same period last year. The net profit margin was -2.47% and return on equity was -9.96% for GT. The company reported revenue of $5.14 billion for the quarter, compared to $5.31 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.18 percent. For the current quarter, analysts expect GT to generate $5.33B in revenue.
Goodyear Tire & Rubber Co.(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.
