ValuEngine lowered shares of Goodyear Tire & Rubber (NASDAQ:GT) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.
GT has been the subject of several other reports. Zacks Investment Research raised Goodyear Tire & Rubber from a sell rating to a hold rating in a report on Wednesday, January 2nd. Morgan Stanley lowered their price objective on Goodyear Tire & Rubber from $23.00 to $22.00 and set a hold rating for the company in a report on Wednesday, November 14th. Deutsche Bank assumed coverage on Goodyear Tire & Rubber in a report on Thursday, December 13th. They issued a hold rating for the company. Longbow Research restated a hold rating on shares of Goodyear Tire & Rubber in a research note on Monday, January 21st. Finally, Jefferies Financial Group set a $26.00 target price on Goodyear Tire & Rubber and gave the company a buy rating in a research note on Tuesday, December 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $23.56.
Shares of Goodyear Tire & Rubber stock opened at $18.65 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 0.76. The stock has a market capitalization of $4.35 billion, a P/E ratio of 8.04, a PEG ratio of -1.48 and a beta of 1.60. Goodyear Tire & Rubber has a fifty-two week low of $17.88 and a fifty-two week high of $30.73.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, February 8th. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.09). The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $4.04 billion. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.24%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. Equities research analysts anticipate that Goodyear Tire & Rubber will post 2.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be paid a $0.16 dividend. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, January 31st. Goodyear Tire & Rubber’s payout ratio is presently 27.59%.
Hedge funds and other institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $35,000. Dupont Capital Management Corp boosted its position in shares of Goodyear Tire & Rubber by 44.8% during the fourth quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock worth $88,000 after buying an additional 1,335 shares during the period. IFP Advisors Inc boosted its position in shares of Goodyear Tire & Rubber by 35.7% during the fourth quarter. IFP Advisors Inc now owns 5,315 shares of the company’s stock worth $108,000 after buying an additional 1,397 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $113,000. Finally, Columbia Asset Management acquired a new stake in Goodyear Tire & Rubber in the third quarter worth approximately $195,000. Institutional investors and hedge funds own 89.49% of the company’s stock.
Goodyear Tire & Rubber 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 rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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