Goodyear Tire & Rubber Co (NASDAQ:GT) shares rose 5.4% during trading on Friday . The stock traded as high as $11.82 and last traded at $11.71, approximately 4,344,233 shares traded hands during mid-day trading. An increase of 0% from the average daily volume of 4,330,532 shares. The stock had previously closed at $11.11.
A number of equities analysts have issued reports on GT shares. Morgan Stanley set a $14.00 price target on Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Wednesday, June 26th. Longbow Research upgraded Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price target for the company in a research note on Thursday, June 6th. Citigroup cut their price target on Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. BNP Paribas started coverage on Goodyear Tire & Rubber in a research note on Friday. They set an “outperform” rating and a $10.00 price target for the company. Finally, KeyCorp started coverage on Goodyear Tire & Rubber in a research note on Wednesday, May 22nd. They set a “sector weight” rating and a $14.93 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $18.41.
The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.58 billion, a P/E ratio of 5.05 and a beta of 1.71. The business’s fifty day moving average is $13.99 and its 200 day moving average is $16.76.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.77 billion. Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. As a group, research analysts expect that Goodyear Tire & Rubber Co will post 1.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be paid a $0.16 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.64 dividend on an annualized basis and a yield of 5.47%. Goodyear Tire & Rubber’s dividend payout ratio is 27.59%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp purchased a new position in shares of Goodyear Tire & Rubber during the 1st quarter valued at $25,000. Valeo Financial Advisors LLC purchased a new position in shares of Goodyear Tire & Rubber during the 1st quarter valued at $27,000. Quadrant Capital Group LLC grew its position in shares of Goodyear Tire & Rubber by 1,678.5% during the 1st quarter. Quadrant Capital Group LLC now owns 2,650 shares of the company’s stock valued at $47,000 after purchasing an additional 2,501 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Goodyear Tire & Rubber by 46.3% during the 1st quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock valued at $94,000 after purchasing an additional 1,645 shares in the last quarter. Finally, Employers Holdings Inc. purchased a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at $106,000. Institutional investors and hedge funds own 80.96% of the company’s stock.
Goodyear Tire & Rubber Company Profile (NASDAQ:GT)
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company 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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