Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) have earned an average rating of “Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $37.30.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, January 29th. BidaskClub raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Guggenheim set a $32.00 price objective on Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Friday, February 9th. Longbow Research assumed coverage on Goodyear Tire & Rubber in a research note on Wednesday, January 31st. They issued a “neutral” rating for the company. Finally, ValuEngine raised Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st.
Several institutional investors and hedge funds have recently bought and sold shares of GT. Levin Capital Strategies L.P. purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $40,383,000. Sound Shore Management Inc. CT raised its stake in shares of Goodyear Tire & Rubber by 38.7% in the 3rd quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock valued at $133,796,000 after acquiring an additional 1,123,573 shares in the last quarter. Hexavest Inc. raised its stake in shares of Goodyear Tire & Rubber by 65.9% in the 4th quarter. Hexavest Inc. now owns 1,631,370 shares of the company’s stock valued at $52,710,000 after acquiring an additional 648,313 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at approximately $15,827,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Goodyear Tire & Rubber by 10.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after acquiring an additional 414,651 shares in the last quarter. 96.52% of the stock is owned by institutional investors.
Goodyear Tire & Rubber (GT) traded down $0.33 during trading hours on Friday, hitting $28.02. The company had a trading volume of 724,558 shares, compared to its average volume of 3,235,256. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.21 and a quick ratio of 0.66. Goodyear Tire & Rubber has a fifty-two week low of $27.85 and a fifty-two week high of $37.20. The firm has a market cap of $6,947.44, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 0.65 and a beta of 1.72.
Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the company posted $0.95 EPS. Goodyear Tire & Rubber’s revenue for the quarter was up 8.8% on a year-over-year basis. analysts anticipate that Goodyear Tire & Rubber will post 3.6 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 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 2.00%. The ex-dividend date of this dividend was Wednesday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 41.79%.
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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.
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