Goodyear Tire & Rubber Co (NASDAQ:GT) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.30.
A number of equities research analysts have issued reports on GT shares. Zacks Investment Research lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Citigroup lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $36.00 in a report on Monday, October 30th. BidaskClub lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. ValuEngine upgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, October 30th.
In other Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $32.12, for a total value of $240,900.00. Following the sale, the senior vice president now directly owns 51,848 shares of the company’s stock, valued at approximately $1,665,357.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GT. Advisory Services Network LLC grew its position in 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 last quarter. Benjamin F. Edwards & Company Inc. grew its position in 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 last quarter. Smith Moore & CO. purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth $203,000. Dynamic Technology Lab Private Ltd purchased a new position in Goodyear Tire & Rubber during the 3rd quarter worth $205,000. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth $223,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Goodyear Tire & Rubber (NASDAQ:GT) traded down $0.77 during mid-day trading on Wednesday, hitting $29.34. 5,416,800 shares of the stock traded hands, compared to its average volume of 3,392,448. The firm has a market cap of $7,236.38, a price-to-earnings ratio of 21.90, a P/E/G ratio of 0.64 and a beta of 1.60. Goodyear Tire & Rubber has a 52-week low of $28.81 and a 52-week high of $37.20. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 1.21.
Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 8th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.23. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.96 billion. Goodyear Tire & Rubber had a net margin of 2.25% and a return on equity of 15.70%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. analysts forecast that Goodyear Tire & Rubber will post 3.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio is presently 41.79%.
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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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