Goodyear Tire & Rubber (GT) Given a $15.00 Price Target at Morgan Stanley

Morgan Stanley set a $15.00 price target on Goodyear Tire & Rubber (NASDAQ:GT) in a report released on Thursday morning, TipRanks reports. The firm currently has a hold rating on the stock.

Several other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Goodyear Tire & Rubber from a sell rating to a strong sell rating in a research note on Tuesday. ValuEngine downgraded shares of Goodyear Tire & Rubber from a sell rating to a strong sell rating in a research note on Thursday, May 9th. Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a sell rating to a hold rating in a research note on Wednesday, May 1st. Finally, Longbow Research reiterated a sell rating and issued a $14.00 target price on shares of Goodyear Tire & Rubber in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $21.50.

NASDAQ:GT traded down $0.35 during mid-day trading on Thursday, hitting $15.73. The stock had a trading volume of 4,773,836 shares, compared to its average volume of 4,605,704. Goodyear Tire & Rubber has a twelve month low of $15.71 and a twelve month high of $26.43. The company has a market capitalization of $3.65 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of -1.66 and a beta of 1.51. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.28.



Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the business posted $0.50 EPS. Goodyear Tire & Rubber’s revenue was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that Goodyear Tire & Rubber will post 2.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.64 annualized dividend and a yield of 4.07%. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

A number of institutional investors have recently added to or reduced their stakes in GT. CWM Advisors LLC increased its holdings in shares of Goodyear Tire & Rubber by 12.6% during the fourth quarter. CWM Advisors LLC now owns 13,263 shares of the company’s stock worth $271,000 after purchasing an additional 1,479 shares during the period. Deutsche Bank AG increased its holdings in shares of Goodyear Tire & Rubber by 14.3% during the fourth quarter. Deutsche Bank AG now owns 1,012,714 shares of the company’s stock worth $20,665,000 after purchasing an additional 126,642 shares during the period. Geode Capital Management LLC increased its holdings in shares of Goodyear Tire & Rubber by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 3,515,759 shares of the company’s stock worth $71,647,000 after purchasing an additional 226,311 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Goodyear Tire & Rubber by 14.8% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,931 shares of the company’s stock worth $1,244,000 after purchasing an additional 7,842 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP increased its holdings in shares of Goodyear Tire & Rubber by 7.9% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 240,564 shares of the company’s stock worth $4,910,000 after purchasing an additional 17,554 shares during the period. 85.51% of the stock is currently owned by hedge funds and other institutional investors.

About Goodyear Tire & Rubber

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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