Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Free Report) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.26.
Several analysts recently issued reports on GT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Friday, August 7th. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th.
Check Out Our Latest Stock Analysis on GT
Hedge Funds Weigh In On Goodyear Tire & Rubber
Goodyear Tire & Rubber Price Performance
NASDAQ:GT opened at $5.05 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 1.09 and a debt-to-equity ratio of 1.92. The business’s 50-day simple moving average is $6.35 and its two-hundred day simple moving average is $6.48. The stock has a market cap of $1.45 billion, a PE ratio of -0.57 and a beta of 1.10. Goodyear Tire & Rubber has a 52 week low of $5.04 and a 52 week high of $10.62.
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.19 billion. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The business’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, analysts forecast that Goodyear Tire & Rubber will post -0.43 EPS for the current fiscal year.
About Goodyear Tire & Rubber
Goodyear Tire & Rubber Company develops, manufactures, markets and distributes tires and related products and services. Its portfolio includes tires for passenger cars, SUVs, trucks, buses, commercial fleets, aircraft, mining and other off-the-road applications. The company serves both original-equipment manufacturers and replacement-tire customers.
Goodyear markets products primarily under the Goodyear brand, along with other brands and private-label offerings. Its business also includes tire-related services, fleet support, vehicle maintenance and mobility solutions designed to help commercial customers manage their transportation operations.
Founded in 1898 and headquartered in Akron, Ohio, Goodyear has built a global presence through manufacturing, distribution, retail and service operations.
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